Tax Return Tuesday #1 - Refund Section

Happy tax return Tuesday! On Tuesdays I will be posting must know tax return review tips for family lawyers until I run out of them.

Let me start with one of my favorites, the 1040 refund section.

People going through a divorce will sometimes try and defer their refunds to a later date by electing to have it apply to next year (when the divorce is hopefully done). In pursuit of such a scheme, some people will also make intentional overpayments with the hope of stashing the money with the IRS.

Make sure to always check the second page of the return to make sure there are no marital “tax assets” that need to be distributed, check out the example below 👇