Month: February 2016

The importance of tax returns in divorce proceedings

  Joint Filings: Many times during a divorce, Parties are tempted to file taxes as “married filing jointly.”  Usually, but not always, your tax burden will be lower filing jointly, depending on your respective incomes, deductions, and credits. The main disadvantage of filing jointly is that both spouses are jointly and severally liable for taxes on the return, including any tax deficiencies, interest, and penalties.… Read More