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Divorce and Tax Issues

Parties in a divorce proceeding, either one or both, could be in the process of being audited by the Internal Revenue Service or Illinois Department of Revenue either for personal or business reasons.

In regard to the outcome there could be tax refunds due or there could be taxes owed.

If there are taxes owed, the Court can take into consideration who was responsible for generating the tax liabilities and the Court can assign responsibility for payment of those tax liabilities in the course of the dissolution of marriage proceeding, including any Judgment of Dissolution of Marriage.

Even if tax returns have been timely filed, business or personal, there is always a possibility there could be an audit or other activity of a tax authority which could result in a refund or a claim for additional taxes and additions being owed. This possibility should be taken into consideration in regard to drafting any Marital Settlement Agreement, or should be raised with the Court in order to obtain a ruling with respect to how said possible or contingent liabilities should be handled within the context of the dissolution of marriage proceeding, including since various statutes of limitations apply, for criminal or civil purposes, in regard to tax issues which may arise years after a Judgment of Dissolution of Marriage may be entered.

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