Transcription of THE BASICS (REALLY!) OF INCOME TAXES & FAMILY LAW
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THE BASICS (REALLY!) OF INCOME TAXES & FAMILY LAW
7/14/20091 THEBASICS ( really !) OFINCOMETAXES& FAMILYLAWJ udge Nancy E. GordonDurham County District CourtJuly 2009, NC Judicial CollegeWhy is information about basic INCOME tax important in FAMILY Law Cases?BECAUSE UNDERSTANDING THE BASICS WILL INFORM YOUR DECISIONS July 09 Judge Nancy 2E. Gordon, durham , NCAND WE THE STATUTESREQUIREJUDGES TO CONSIDER INCOME TAXISSUESC onsideration of INCOME tax consequences is required in Equitable Distribution Cases; it is a consequence of your decision in a Postseparation Support/Alimony case; and July 09 Judge Nancy Postseparation Support/Alimony case; and there are a variety of tax effects that relate to child support/custody decisions you make3E. Gordon, durham , NC7/14/20092 DIVORCE court ORDERS DO NOT CONTROL TAX CONSEQUENCESMany federal judges, when ruling on the tax effect of a divorce court s rulings, say: a State court or the intention of the state court judge in rendering a divorce decree does not July 09 Judge Nancy judge in rendering a divorce decree does not determine the Federal INCOME tax consequences of the divorce judgment rendered.
7/14/2009 1 THE BASICS (REALLY!)OF INCOME TAXES & FAMILY LAW Judge Nancy E. Gordon Durham County District Court July 2009, NC Judicial College Why is information about basic income tax important in Family Law
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