One spouse will say, “You know, I think that the other spouse has been taking money out of the business and not reporting it.” That can be a very challenging situation. The lawyer’s first question is going to be, have you filed joint federal income tax returns? At the time that you file those joint returns, did you suspect or were you aware that your spouse was not declaring all of their income? When faced with that kind of situation, that’s a fairly sophisticated manner. It’s going to require some advice from a tax professional. Presumably, your divorce lawyer is going to be able to put you in contact with a CPA who has been through that issue, who knows how to address that with the IRS, who knows how to resolve it in a way that avoids hopefully any kind of adverse consequences to the innocent spouse.
Chuck Roberts is family lawyer at Momkus McCluskey Roberts, LLC, one of the largest law firms in DuPage County, Illinois.Back To Top
Certified Divorce Financial Analyst
Business Valuators / CPAs