Is Kim Kardashian West Filing Her Taxes Separately from Kanye West?
As the daunting tax season continues on, many of you may have already filed, are in the process of filing, or are still lagging behind and attempting to recover any and all of those receipts to be sure all deductions are accounted for. And while you may be unsure as to where you want to have your tax refund completed, you also need to consider this: what status will you file with? According to Forbes, it appears Kim Kardashian West is keeping her finances and tax return separate from her husband. But why?
Here’s one thing tax attorneys in Los Angeles, California want you to be aware of and always keep in mind prior to filing your taxes jointly. In the event your spouse misfiled their taxes during a previous year, and you file with them, you are liable to pay out for any fines pinned on them, and are also at risk of being accused of committing tax fraud in the event false information was reported. As Forbes states, Kanye West may be struggling with his funds as of lately and his wife wants nothing to do with any further monetary issues.
Now here are the different ways in which your taxes can be filed:
- Single
- Married Filing Jointly
- Married Filing Separately
- Head of Household
- Qualifying Widow(er) with Dependent Child
Deciding which is the best way to file can determine the outcome of how much taxable income you have, as well as what your possible refund amount may look like. Tax lawyers in Los Angeles, California remind you that while you may be determined to choose the most suitable status with the least amount of tax applied, it is important to follow the laws pertaining to each filing status to ensure the accuracy is up to par.
For instance, Forbes notated that your marital status on the last day of the year is what is used to determine whether you should file married, separate, or single. So if you were married half of the year, and then divorced the remaining half, your filing status would be single. Los Angeles, California tax fraud legal representatives know that as confusing as tax time can be, always be sure to select the appropriate filing status to steer clear of the IRS coming after you for more of your hard-earned money.
Should you find yourself with a dilemma on your hands involving a wrongfully filed tax return, or were made aware of your spouse’s inexcusable deductions that were falsely reported during the year you filed with him/her, you may want to seek legal counsel before responding back to the IRS, especially if the amount could pose a hefty burden on the both of you.
Tax attorneys in Los Angeles are ready to handle any case presented, and can provide you with the guidance you may need to accurately handle the situation. The IRS will provide you with a deadline, therefore, it is not in your best interest to put the matter off any longer. Consult with one of USAttorneys reputable tax lawyers in California today.
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