The IRS and tax preparers consider divorce a major life event. Many people don't realize the impact of divorce on taxes. You're likely to have many questions about divorce and taxes when you are going through a divorce.
Your divorce mediator can help answer these questions. You can appoint a mediator for divorce and taxes at https://boileaucs.com/divorce-accounting-and-tax-issues/.
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A skilled divorce mediator can answer your questions regarding how your divorce could affect your taxes.
The first decision you will have to make during your divorce is which filing status you want. Your filing status will be determined on the last day of the year. If you are legally separated or divorced on December 31, then you will file as "single."
If you're legally separated or divorced and provide a home, more than 50% support for at least one dependent, you can file as the "head of household". Ask your divorce mediator what option is best for you.
You should discuss with your spouse who can claim the children as dependents before tax time. The IRS doesn't care who files the claim. This is a decision that you, your spouse, and your attorney for divorce can discuss and address in your settlement agreement.
To fully understand the impact of your divorce on your taxes, due to the complex nature of the tax system you will need to speak with a divorce mediator. An experienced divorce mediator can help you make the best tax decisions for your case.