There are three tax credits that were enhanced with greater benefits in the recent “stimulus bill” that was made into law. This article describes each of them in detail.
A Tax Loophole Just For Divorcing Couples
A lot of people getting divorced are not aware that the IRS, yes that IRS, recognizes that people getting divorced have an unusual situation that could benefit by some reasonable exceptions to their usual rules.
One that is often overlooked is the elimination of the 10% tax penalty for 401(k) withdrawals done as part of a divorce property settlement agreement. Read on to learn more.