Divorce and Income Tax Problems: Strategies for Resolving IRS Disputes and Liabilities in Divorce Proceedings

BarbriSFCourseDetails

Course Details

Course Information

smart_display Format
On-Demand
signal_cellular_alt Difficulty Level
work Practice Area
Family Law

Date & Time

event Date
Wednesday, October 28, 2020
schedule Time
1:00 p.m. ET./10:00 a.m. PT
timer Program Length
90 minutes

Credit Information

This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$197.00

This CLE course will guide family law practitioners about how to resolve tax delinquencies, disputes, and controversies when a couple is divorcing. The tax issue may be known at the time divorce is initiated or arise afterward, or even come into existence because of the divorce. This webinar will discuss options for dealing with tax disputes in divorce, refunds claimed by both spouses, and the proper way to file while the divorce is pending.

Faculty

Kelly L. Burris

Senior Litigation Partner

Cordell & Cordell

Ms. Burris has settled and litigated complex custody cases and property cases involving multi-million dollar estates. She has also successfully litigated child custody relocation cases.

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Josh Shilts

Forensic & Valuation Services Director

Dean Dorton Allen Ford, PLLC

Mr. Shilts is an industry-leading expert in forensic accounting and business valuation (“FVS”), a thought leader, educator, and entrepreneur who assists attorneys, individuals, and businesses with complex financial matters and disputes. A focused problem-solver, he is equal parts expert, sleuth, and engaging communicator who thrives on the challenges and demands of his career. Mr. Shilts has held roles with public accounting firms ranging in size from the “Big Four” to smaller regional and local firms, as well as large public organizations throughout Florida and New York.

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Description

Tax issues can sabotage all aspects of family law, especially divorce and custody proceedings. Of paramount importance, counsel should make helping their clients avoid or remove a tax lien a top priority.

Sometimes the parties are aware of tax issues when they seek divorce. In such cases, they may be able to negotiate settlement with the IRS through one of several options, such as installment agreements and offers in compromise. The IRS also offers taxpayers penalty abatements in some situations. How the liabilities are apportioned and enforced between the parties requires careful planning and drafting.

Other times tax problems are uncovered or arise only during divorce proceedings. Even then, if the divorcing taxpayers have, for example, failed to file tax returns or under-reported tax liability, they still may be able to mitigate the situation with the help of savvy counsel before the IRS or other taxing entity can assess penalities.

At times, counsel will need to seek relief from joint and several liability due to the actions of the other spouse, such as one spounse fling a joint return without the knowledge of the other or failing to report income. Sometimes one spouse will appropriate a refund without the knowledge of the other. A common solution for getting relief from a joint tax liability is for one taxpayer to file for innocent spouse relief, which permits legal and financial relief under certain strict criteria.

Listen as the panel examines the kinds of common and uncommon tax problems present in family law litigation and divorce.