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Resolving Tax Issues During A Divorce

In every divorce, particularly between spouses who own a closely-held company or other substantial assets, there are numerous tax issues. Tax attorney Fred L. Baker, of the Baker Law Firm, P.C. is often called on by family law attorneys throughout Connecticut to give counsel and advice on complex tax issues and the tax repercussions of property settlements in divorce matters.

It is our goal to assist in structuring your divorce settlement to minimize your tax burden and maximize the value of your share of the marital estate. Fred L. Baker consults with family law attorneys and other professionals on the issues that affect your future, such as the following:

  • Capital gains on the liquidation of long-term investments
  • QDROs for the division of retirement benefits and pension benefits
  • IRS alimony recapture
  • Tax consequences of the sale of the marital residence
  • The division of dependency exemptions for minor children
  • Filing status in the year of the divorce

Innocent Spouse Tax Relief

Generally, the IRS holds both spouses equally responsible for a joint tax return. This means both parties are responsible for the tax owed and any penalties accrued. However, if your spouse made a mistake or fraudulently prepared or filed the joint tax return unbeknownst to you, you may possibly be relieved of the debt through innocent spouse relief.

Experience Matters

The Baker Law Firm, P.C. serves individuals and businesses throughout Connecticut. Contact Danbury divorce tax dispute attorney Fred L. Baker at 203-648-4737 to arrange a confidential consultation about your tax issues.