Family Law Pointer - Updating Your W-4
When getting a divorce as a W-2 employee, it’s always useful to verify how your employer is withholding from your paycheck (your W-4). If you are withholding as a married person, you are likely taking out less from your paycheck due to the greater deductions permitted by married couples than single individuals. When divorced and you can no longer file with your spouse, if your W-4 hasn’t been updated (it isn’t automatic), you could end up with a larger than anticipated tax bill for the year after your divorce than if you completed a new W-4 to have tax withheld to match your current marital status.
Every situation is different. This is for informational purposes only and is not a substitute for legal advice. Contact an experienced family law attorney at Elverson Vasey for help you assess the tax implications of a divorce.
