Description
Upon completion of this seminar, students will learn about the tax rules that apply to taxpayers who are divorced or separated from their spouse and understand the tax implications associated with the change in filing status. They will also be able to explain which exemptions the taxpayer is entitled to claim, including exemptions for dependents. Students will examine how alimony, child support, other court-ordered payments, property settlements, and transfers of individual retirement arrangements affect the payer and payee. In addition, students will recognize the deductions allowed for some of the costs of obtaining a divorce, as well as how to handle tax withholding and estimated tax payments. Finally, students will get an overview of how divorced and separated taxpayers are treated in community property states. New lecture video reinforces concepts! Topic: Filing Status Considerations for Divorced and Separated Taxpayers IRS # EEZ75-T-00505-24-S CTEC # 1071-CE-3232 NASBA # 103388