Tax Considerations

Same Day & After Hours Appointments Available | In-Person or Zoom Meetings | Over 20 Years Experience

Our Flat Fee Divorce Rates


Uncontested Divorce No Children

Starting At$1,800

Uncontested Divorce With Children

Tax Issues in Divorce

Attorney for Tax Implications Caused by Divorce

When you are going through a divorce, you probably have a lot on your mind: who will have custody of the children, how investments will be divided, and whether spousal maintenance will be ordered. The list is endless, and most of these issues will have some kind of tax implication.

If you have any concerns over the tax implications that come with your divorce decree, Reifman Law Offices is here to address them. Attorney Arkady Reifman has almost 20 years of experience practicing divorce and family law, so he has seen how the tax implications of divorce play out many times. In some cases, reaching an agreement with your spouse, even regarding certain tax issues, is best for both parties. In others, litigation may be necessary to protect your and your family’s interests. Whatever the case may be, Reifman Law Offices will work to find a resolution to your divorce that works.

Child Custody, Support, and Taxes

Child custody and support are often one of the most contentious and emotionally charged issues in a divorce case. It can also have serious tax implications. In Illinois, only one parent can claim the child tax credit. Normally, this is the parent with primary residential responsibilities for the child. During a divorce, the parents can reach an agreement regarding which parent can claim the exemption, or the court can make the decision for the parents.

This is one issue where it may make more sense for the spouses to consider the interests of the child and reach an agreement. There can be some math involved, but some divorced parents may find that one would benefit substantially more by claiming the exemption, or that the amount of child support paid would change after income is recalculated based on child support payments.

Child support payments, if ordered, can also have tax implications for both parties. Spousal maintenance, if ordered, can further complicate the issue. In Illinois, neither child support nor spousal support is deductible by the person paying it, nor is it taxable to the person receiving it. There are some other tax credits one or both parents could be eligible for, and ironing out who is entitled to what tax benefit relating to child custody in the divorce decree may save you some confusion and stress down the road. Reifman Law Offices may be able to guide you and your spouse toward an arrangement that works best for both you and your child.

Tax Issues in Property Division

When personal property, such as furniture or household appliances, is divided, there are generally no tax obligations for either party. When more complex property, such as a pension or retirement account, needs to be divided, there may be tax consequences for both spouses. That spouse will have several options as to how they choose to take their share, each with its own set of tax implications. Reifman Law Offices will discuss all possible options and help you choose the one that is right for you while limiting your tax liability.

How Divorce Changes Your Filing Status

Your filing status depends on whether you were still married as of December 31 of the year for which you are filing. You may need to decide between filing jointly and filing as married, but separately. Filing jointly may lead to a better outcome, but can be difficult if your divorce is contentious. Resolve Divorce can help you decide how to file, and we can assist you in working with your spouse if needed.

Call a Schaumburg Tax Issues in Divorce Lawyer

Reifman Law Offices is here to advocate for you in all aspects of your divorce, including the tax implications. We will seek to find a resolution that is in your favor, whether through agreement or litigation. Contact us or call 847-229-8433 to set up your free consultation to find out how we can help you. We serve clients at our locations in Arlington Heights, Palatine, Rolling Meadows, Elk Grove Village, Streamwood, Hoffman Estates, Barrington, and West Dundee.

At Reifman Law Offices,

we will take the weight of dealing with family legal issues off of your shoulders.
Call Us 847-229-8433

Meet theAttorney

Arkady Reifman

What Our Clientssay about us