With tax season officially upon us, Cordell & Cordell Principal Partner Joe Cordell focused his most recent column in the Huffington Post on common tax issues that arise for the recently divorced.
The dissolution of a marriage typically leads to a host of new concerns and questions once you start filling out your tax forms.
“It is crucial that you understand what has changed, since any errors in your filing could potentially result in an IRS audit — an even more unpleasant process that will only serve to compound the difficulties you are already facing with an ongoing fresh divorce,” Mr. Cordell wrote.
Mr. Cordell explained what you need to know about determining filing status, child dependency exemptions and credits, and several other tax concerns that frequently arise for the recently divorced.
In some cases, Mr. Cordell said it’s a good idea to seek professional assistance when going through this process.
“It may be a good idea for the recently divorced to have a financial advisor, such as an accountant or CPA, look over your return to ensure there are no errors and you are maximizing your return,” he said.
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