A tax problem is challenging and stressful—a divorce is equally trying. When you combine a tax problem with a divorce in Oklahoma City, your life can become very difficult. While you cannot anticipate and prevent every issue, there are things that you can do during the divorce process to reduce the likelihood of tax problems.
How to Avoid Tax Problems During Your Divorce
You probably have a lot on your mind as you separate your home into two households and transition to a new life. Taxes may not be on your radar. However, you can avoid potential problems by:
- Hiring a reliable accountant. Take yourself out of the joint-filing process by carefully gathering the paperwork needed to file accurate tax returns and allowing an accountant to help you and your soon-to-be ex-spouse file your taxes.
- Filing the right forms. For tax purposes, you need to file as married—either jointly or separately—if you were still married on December 31 of the filing year. For example, if you were in the process of getting divorced on December 31, 2013, and your divorce was not finalized until January 2014, then your 2013 income tax returns, which are due on April 15, 2014, should be filed as a married couple.
- Knowing your finances. If your spouse handled your finances during your marriage, it is important that you get up to speed quickly.
Your potential tax issues will not go away once your divorce is final.
Educate Yourself Now
Not only should you know how to avoid tax problems during your divorce, but you should also know how to get help if a problem does arise. To find out more about what you can do, read our FREE Ultimate Survival Guide for IRS Problems and please call us directly if we can be of assistance to you.