Splitting up with your partner brings with it inescapable modification, and you may find yourself adapting to new custody arrangements, brand-new budget plan restrictions and even a brand-new location to live in the aftermath of a divorce.
Your requirements and requirements as far as filing your taxes will also alter once you formally split from your one-time partner, and acknowledging how your divorce will affect your taxes might assist you avoid making unnecessary errors.
So, what is it you require to learn about submitting your taxes after a divorce?
Anytime you make an error on your taxes, you set yourself up for processing delays. You may, too, find that making errors on your taxes draws the undesirable attention of the Irs, so the more accurate and upfront you can be when filing, the better. When filing taxes after divorce, take care to do the following:
Use the proper filing status: Married couples enjoy certain tax advantages, but as soon as you divided from your previous partner, you will no longer be able to take benefit of certain advantages. You will need to file as a single person as opposed to someone who is wed and filing collectively or married and submitting independently, and your marital status as of Dec. 31 of the tax year you are referencing will be the status you need to file under.
Make prompt name changes: If you took your partner’s name when you married, however you plan to revert to your previous name, make certain to inform the U.S. Social Security Administration. The name you file your taxes under must match the name the administration has for you, or it can lead to difficulty, processing hold-ups and other issues.