Dividing up with your spouse brings with it unavoidable change, and you may discover yourself getting used to brand-new custody plans, new budget plan restrictions and even a new place to live in the aftermath of a divorce.
Your needs and requirements as far as filing your taxes will likewise change as soon as you officially split from your one-time partner, and acknowledging how your divorce will affect your taxes may help you prevent making unnecessary errors.
So, what is it you need to understand about submitting your taxes after a divorce?
Anytime you make a mistake 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 much better. So, when filing taxes after divorce, take care to do the following:
Use the correct filing status: Couples enjoy particular tax benefits, once you split from your previous partner, you will no longer have the ability to benefit from specific benefits. You will require to submit as a single individual instead of someone who is married and submitting collectively or wed and filing individually, and your marital status since Dec. 31 of the tax year you are referencing will be the status you should submit under.
Make prompt name changes: If you took your partner’s name when you married, however you plan to go back to your former name, ensure to inform the U.S. Social Security Administration. The name you submit your taxes under need to match the name the administration has for you, or it can cause difficulty, processing delays and other concerns.