Divorce federal georgia law tax
Beginning in , these type of deductions are no longer available. December 31 is an important day for separated couples.
The IRS considers you married for the entire tax year when you have no separation maintenance decree by the final day of the year. If you are married by IRS standards, you can only choose "married filing jointly" or "married filing separately" status. You cannot file as "single" or "head of household. Since the IRS honors the divorce laws of the states, where you live affects your options as well. In Texas, for example, you remain married from a tax perspective until your divorce is final, even though you're legally separated.
Your filing status affects your tax rate and determines which credits you can claim. Filing jointly can result in a lower tax bill than filing separately, so the IRS recommends calculating your tax liability as single and joint filers to learn which offers the most savings TurboTax can help with this, and recommend the best filing status for you.
Filing jointly could pose risks, however, since you share responsibility for any taxes due along with related penalties and interest.
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The IRS acknowledges that filing separately leads to paying more taxes but doing so avoids sharing liability for each other's tax obligation. As married filing separately, you have to agree on taking the standard deduction or itemizing—if one itemizes, you both must itemize. You must limit itemized deductions such as mortgage interest and property taxes to what you paid as individuals, although you can split any medical expenses paid from a joint account.
By filing separately, you lose the ability to claim earned income and higher education tax credits among other breaks the IRS offers. If tax law considers you "unmarried" because you got a decree of separation maintenance prior to December 31, you can file with "single" or "head of household" status. If your dependent is a child who lives with you more than with your spouse, the IRS considers you to be the custodial parent. Your deductions and credits as custodial parent depend on whether your spouse has agreed to waive his ability to claim the child as a dependent—only one of you can claim the child as a dependent.
When you can claim your child as a dependent, you can claim child-related credits. Get every deduction you deserve. TurboTax Deluxe searches more than tax deductions and credits so you get your maximum refund, guaranteed. Claiming a Domestic Partner as a Dependent. Video: Single Tax Withholding vs. Married Filing Jointly.
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Administrative services may be provided by assistants to the tax expert. How does a court decide to whom to award the Child Tax Credit? If you have more than one child, can the court split the available exemptions between the parties? This article will answer these questions and more, in the hopes that it will allow you to head into your divorce case more informed about the law in this area and, as a result, better prepared to reach a satisfactory resolution.
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Understanding this complex legal question first requires defining some important legal terms. With those definitions in mind, consider next that the Child Tax Credit is made available by the federal government, whereas your divorce case is a matter of state law. This fact was of primary importance to the Georgia Supreme Court when it ruled, in Blanchard v.
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In Blanchard , it was important to the Court that federal law allows only the custodial parent to claim the Child Tax Credit. The state would be exerting the power of taxation, and that power is not subject to state control. However, as described below, there are some important exceptions to this general rule. Such an arrangement is most commonly seen when the parents live in relatively close proximity and within the same school district. In Frazier v. Frazier , the Georgia Supreme Court was faced with a divorce case in which the parties were awarded joint physical custody of their two minor children.
http://hymanssing.sensibledevelopment.com/a-orillas-del-pasado-mira.php The Court, revisiting its prior decision in Blanchard , ruled that a trial court may award each parent a Child tax credit where the parenting time is practically equal. Not necessarily. It is thus likely, given the holdings in Blanchard and Frazier , that the court in a case involving a split parenting arrangement would divide the available Child Tax Credits between the parents in accordance with the number of children for which they qualify as the custodial parent.
In a recent case, the Georgia Court of Appeals was faced with the question of whether a trial court may, in a modification action, change which parent receives the Child Tax Credit. Blumenshine v. Hall involved a case in which the parties had gotten divorced in the state of Wyoming. After the mother moved to Georgia, the father petitioned a Georgia court to have the custody arrangement modified. His plan ultimately backfired, and the Georgia court, like the Wyoming court, awarded primary custody of all three children to the mother.
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The Georgia court also made one other decision that is particularly relevant to the topic of this article: it took away the Child Tax Credit awarded by the Wyoming court to the father and instead awarded it to the mother. The primary takeaway from Blumenshine is that, just because the court in a divorce action awards a Child Tax Credit to one parent, such an award is not set in stone. In a subsequent modification action, the court will likely shift the child tax credit to the party who is awarded primary physical custody.
In many states, courts do have the ability to award the Child Tax Credit to the noncustodial parent; Georgia, however, as mentioned above, is not one of them. When the father in Blumenshine brought a modification action against the mother in Georgia, the Georgia court was obligated to apply Georgia law.