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Divorce tax implications
Divorce Tax Implications According to IRC section 1041, no gain or loss is recognized on a transfer of property between spouses in a divorce. However, ......(Continue Reading) Home is where the heart is - from The Tax Adviser
Taxpayers are able to rollover gain from the sale of their principal residence or exclude up to $125,000 in gain once if they are 55 or older. However, ......(Continue Reading)Nondeductible alimony
Divorce can create a host of personal and financial problems for the parties involved. A misunderstanding about the tax consequences of a settlement ......(Continue Reading)Opinions with a price
Many professional employees are paid as expert witnesses who render their professional opinion in court cases. The expert witnesses submit a report that ......(Continue Reading)Nonelecting innocent spouse rules
In 1984 Congress expanded the protection from joint and several liability it provided to innocent spouses. Recently, an appeals court affirmed a Tax ......(Continue Reading)
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