Your Orange County family lawyer knows that during the chaotic and stressful atmosphere present during the divorce process many couples fail to anticipate how much income tax should be paid quarterly or withheld from monthly paychecks. However, in order to avoid unpleasant surprises later, each party should consider this tax issue early on.
Filing Tax Returns
Achieving the cooperation needed to file joint income tax returns during the divorce process may prove difficult. Nevertheless, your Orange County family attorney will advise that filing Jointly as opposed to Married Filing Separately results in substantially lower tax rates.
If you have been married to a person who filed a fraudulent return, your Orange County family attorney knows that provisions exist to protect you and will advise that you speak with a qualified and experienced tax expert or obtain legal counsel.
Contingent Tax Liabilities
Some couples may have gone for several years without filing a tax return, or they may have an ongoing dispute with the Internal Revenue Service over income taxes. Situations such as these generate contingent tax liabilities.
If a dispute with the IRS exists, Orange County family attorneys will advise making contingency plans that would include best- and worst-case scenarios. If the final outcome of the dispute resolves differently than predicted, the plan could also require negotiations to continue.
Obtaining Legal Counsel
Competent Orange County family attorneys can help you anticipate and prepare for the tax consequences of divorce. If you would like to speak with an experienced and knowledgeable family attorney in Orange County, please contact Bethanie Fanti at 714-505-3108 to request a free consultation.