Should I File Joint Taxes if I’ve Separated from my Spouse?
- Posted on: Nov 29 2018
While you and your spouse have decided that living together is no longer an option, you may decide to legally separate. Sometimes, this is the first step towards divorce. Other times, you may remain married for years, even for the rest of your lives. There are certainly some benefits to doing so, but there are also some issues that you will need to resolve. One of these issues is deciding how you should file your taxes. Should the two of you file jointly if you’ve separated?
Is Divorce in the Future?
If the separation is leading towards divorce, it may be in your best interest to file as married filing separately. You could also file as head of household. Both options allow you to take advantage of certain tax credits and deductions. However, the option that’s right for you often depends on you and your spouse’s financial situation. For example, there are specific requirements you must meet in order to file as head of household.
Are You Amicably Separated?
Another important factor in your decision is the relationship you have with your spouse. If the two of you separated amicably and are on good terms, you may want to file jointly. Again, it truly depends on your situation and what is the biggest benefit to you both.
If, on the other hand, you have separated on bad terms, it may simply be easier to file as married filing separately. You do not want to prepare a joint tax return only to find that your spouse refuses to sign it. There’s no legal way of forcing your spouse to sign a joint return, and the IRS rarely accepts such a return without both signatures.
Have a Clearly Written Out Agreement
No matter what you do, you want to have everything clearly written out. Both spouses should understand what is being done, who will prepare and file the return if you’re filing jointly, and how any potential tax refund will be split. There should be no questions or assumptions made about your tax return.
If you need assistance with a legal separation or have questions about filing taxes when separated, contact the FK Law Group today.
Posted in: Divorce Law, Family Law, Marriage Annulment, Prenuptial Agreements, Uncategorized
