Kiritsis & Associates

 

3 Ways Tax Returns Are Key In Divorce Actions. . --  Kiritsis Law Firm Group 212 922 0005

Apr 27, 2021

Tax records could help resolve many legal issues in divorce actions.  This is clear, when scrutinized from a procedural and/or substantive legal perspective.

1. Tax returns are key to proving who owns what. Let's say you and your husband own a business for the last 10 years. The tax return schedules, should disclose on what percentages each owned and/or contributed to that business.  This determination, could determine whether and how much a spouse should pay the other spouse, in many states.

2. Tax returns are key to proving when something happened.

    Let's say you bought a rental property, a long time ago, in large part, with a large gift one spouse's parents made to their child, but do not know what year or month it was.  Well, in many jurisdiction, combing through tax returns and tax filings, could be key, in deterring what part of the house, should be part of the marital estate. 

3. Tax returns are key to deterring key calculations.  Many calculations, such as alimony or child support, in many states, hinge on complex formulas, which use numbers, that are largely based on tax filings.

 

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