Divorce can impact your tax situation in ways that might surprise you. From changing your filing status to determining who claims the children as dependents, divorce can complicate tax season if you are not prepared. To avoid costly mistakes, it is very important to understand the tax implications of your divorce. A knowledgeable Illinois divorce lawyer can help you navigate these changes and explain what they may mean for your personal circumstances.
What Is My Filing Status After a Divorce?
Your tax filing status will depend on your marital status as of December 31 of the tax year. If your divorce is finalized on or before December 31, you must file as either “single” or “head of household”. If you are legally married on December 31, you may file as “married filing jointly” or “married filing separately.”