CE: 1 IRS/1 CTEC
Speaker: Timalyn Bowens
Price: Free for Members | $50 for Nonmembers
Taxes can be complicated, but divorce adds a new layer of complexity. The implications of divorce affect more than just the taxpayer’s filing status and tax brackets. This course will cover those things as well as the impact on taxpayer assets and debts that have to be split. Specifically, how NOL carryovers, QDROs, estimated tax payments, and back taxes are handled after divorce. We’ll also cover how practitioners can handle the conflict of interest that arises after the divorce. Participants will leave this presentation with the confidence to know what things to consider when their clients get divorced.
Learning Objectives:
- Establishing what divorce is for IRS purposes.
- Understanding how to determine the taxpayer’s new filing status and tax bracket.
- Tax implications of split retirement accounts, losses, taxes paid, and tax debt.
- Knowing who gets to claim the child(ren). IRS vs. Divorce Decree.
- Understanding how to explain the conflict of interest to your client and former client, and how to protect yourself.
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