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Divorce

1.0 CPE CREDIT

This self-study course helps you navigate tax complexities associated with divorced taxpayers. There are many common and not-so-common tax effects of divorce. Many questions arise such as:

  • What options are available for filing status, child dependency exemption, and allocation of tax benefits?
  • What are the tax effects of property division?
  • How are spousal payments, such as alimony, handled?
  • What are the options for transferring retirement assets incident to a divorce and what are the tax ramifications?
  • When are innocent and injured spouse relief available and how are they applied?
  • When are legal fees deductible?

Prepare yourself to help clients who are divorced or who are getting ready to divorce, and encourage them to work with their attorney to consider tax consequences when structuring the divorce.

 

Last reviewed for accuracy: April 2022

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Instructor Bio: Debbie Held

Debbie Held has been an instructor with the Tax School since 2000. She has also served as a chapter author and reviewer for the University of Illinois Federal Tax Workbook. She is a graduate of Sangamon State University (University of Illinois at Springfield). She has been employed by the IRS since 1979, spending time as a revenue agent, appeals officer, and most recently as a management analyst for the Communications & Liaison Division. She previously taught various accounting courses at Lincoln Land Community College for 18 years. She is a certified public accountant (CPA) and resides in Raymond, Illinois, where her family farms.