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Articles Tagged with tax

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Heedram v. Comm’r, T.C. Memo. 2018‑25, 2018 WL 1193421 (2018)

 

(a) Facts: A husband and wife married in 2011 and divorced in 2015.  During the marriage, the wife earned most of the parties’ income and handled the parties’ finances.  She had unpaid federal taxes from before the marriage.  The parties had difficulty meeting the mortgage payments on their home, and the husband knew this.

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            Minton v. Comm’r, T.C. Memo. 2018‑15, 2018 WL 718520 (2018)

 

(a) Facts: A woman married a man who ran a struggling air conditioner business.  The wife was aware that the business was struggling, as the parties had difficulty paying their bills, but the husband convinced her that a big contract was coming and success was just around the corner.  He even convinced her to make a tax-penalized early withdrawal from her 401(k) plan and invest the funds in his business.  The wife was abused verbally during the marriage, but not physically.

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Cojocar v. Comm’r, T.C. Memo. 2017‑189, 2017 WL 4321149 (2017)

 

(a) Facts: A husband and wife filed joint tax returns from 2009 to 2012.  The 2011 return reported $170,870 in income for the husband, $30,870 in income for the wife, and $289 in interest income.  The parties did not pay the tax reported on the return.

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Gebman v. Comm’r, T.C. Memo. 2017‑184, 2017 WL 4158699 (2017)

 

(a) Facts: A husband and wife signed a joint tax return.  The IRS assessed a deficiency.  Both parties sought relief in the Tax Court.

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            Jacobsen v. Comm’r, T.C. Memo. 2018‑115, 2018 WL 3598803 (2018)

 

(a) Facts: The husband worked 12-hour shifts 14 days per month as a machine operator at a factory.  He also operated a home inspection business.  The wife was employed as an accountant and also managed the finances of both the home inspection business and the family.  The husband never reviewed bank or credit statements or otherwise examined the parties’ finances.  “Petitioner relied on Ms. Lemmens to handle the family finances because of her training as an accountant.”  2018 WL 3598803, at *1.

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Seeliger v. Comm’r, T.C. Memo. 2017‑175, 2017 WL 4012872 (2017)

 

(a) Facts: A husband and wife divorced in 2006.  The decree permitted the husband to take the dependency exemption for the child in odd-numbered years provided that he paid all court-ordered support.

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Kirkpatrick v. Comm’r, T.C. Memo. 2018-20, 2018 WL 1040955 (2018)

 

(a) Facts: The wife sued the husband for divorce in Maryland.  A Maryland court issued a pendente lite order, providing for temporary support.  In addition, the order required the husband to “transfer to Ms. Kirkpatrick the sum of One Hundred Thousand Dollars ($100,000.00) directly (and in a non‑taxable transaction) into an IRA appropriately titled in Ms. Kirkpatrick’s name” and to “pay to the Plaintiff a lump sum of Forty Thousand Dollars ($40,000.00) . . . for Pendente Lite Attorney’s Fees and Suit Money.”  2018 WL 1040955, at *4.  The parties were eventually divorced.

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Barry v. Comm’r, T.C. Memo. 2017-237, 2017 WL 5899406 (2017)

 

(a) Facts: When the parties were divorced, the husband agreed to pay the wife $2,400 per month in alimony.  Twenty-four years later, the husband filed an action against the wife in federal court for breach of contract, arguing that he had overpaid alimony and that the wife was required to return the overpayment.  The action was dismissed quickly as time-barred.

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Carolyn Woodruff, J.D., C.P.A, C.V.A.

Dear Carolyn,

I am a grandmother, and I want to help pay for the tuition for my grandchild’s day care and education at a nice day care facility.  Then, my daughter and son-in-law can work without worry.  They own their own business, and they both need to focus some quality time on the business, while maintaining my grandson as top priority.  My toddler grandson will benefit from the education and interaction with the other children at this particular day care, but it is darn expensive.  Should I give the money directly to my daughter or to the day care?  Is there a tax advantage one way or another?

           – Grandmother of the best grandchild ever…

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Carolyn Woodruff, J.D., C.P.A, C.V.A.

Dear Carolyn:

My ex and I share the children fifty-fifty.  We have three children.  I make approximately $25,000 more than the other parent.  I pay child support even though I have them half the time.  Our child support order says nothing about who gets the dependency exemptions, and I get in a fight with my ex every year over the dependency exemptions.  Who should get the three dependency exemptions?

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