Divorce Tax Debt Division
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IRS Honor Divorce SettlementsSmartAsset
•How Tax Debt Is Divided During a Divorce
86% Informative
Dividing tax debt during a divorce depends on when the debt was incurred.
Responsibility for back taxes may be shared or assigned to one spouse, often based on whether the debt arose before or during the marriage.
IRS rules may not align with a divorce court's decision.
Separation of liability relief allows joint filers to divide responsibility for understated tax liabilities.
If you're ready to find an advisor who can help you achieve your financial goals, get started now. - SmartAsset 's tax return calculator with updated brackets and rates to see how your income, withholdings, deductions and credits will affect your next refund or balance due. Photo credit: iStock.com/Prostock-Studio, iStock.com/fizkes, iStock.com/IURII KRASILNIKOV.
VR Score
88
Informative language
89
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45
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