The tax consequences of separation and divorce can affect a number of areas. If you are separated or divorced just tax time can be a moment of confusion. One sector in particular is the deduction for employees. For example, did you know that, although the final decree gives you the right to claim the child as an employee you still need a special permit from the IRS?
Ever heard of IRS Form 8332? " Child support you pay is taxable? How about food, you get a deduction if you pay for maintenance? These are just a few questions that will tax time.
You are a non-custodial parent which divorce says that you can claim your child? On the other hand, maybe I'm recently divorced and not sure how to handle taxes ... post continued