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Tax implications when filing for Divorce

Divorce and Taxes

There are several possible tax consequences which may impact decisions in a divorce, marital dispute resolution, or settlement agreement.  For somebody to have head of household tax status in the United States there are two important “tests” they must pass. First he or she must meet a marital filing status test and a household [...]

Divorce and Taxes

Divorce or dissolution of marriage  affects several tax issues. To understand the full impact of divorce on your taxes, you should consult with your tax advisor for advice on your financial situation. In general, divorce may affect the following areas:

Property transferred between spouses at the time of a divorce usually doesn’t have income tax [...]