IRS Publication 504

AAA

DEFINITION of 'IRS Publication 504'

A document published by the Internal Revenue Service that provides tax guidelines for individuals who are separated or divorced from their spouses. IRS Publication 504 outlines how to treat property or assets that are transferred between separated or divorced individuals, as well as the treatment of alimony and child support.

INVESTOPEDIA EXPLAINS 'IRS Publication 504'

The publication also covers which divorce- or separation-related expenses can be deducted, how taxes should be withheld and how to estimate taxes. Claiming dependents, for example, can become more complicated when spouses divorce, with one parent being considered the custodial parent and receiving the lion's share of the tax benefit.

RELATED TERMS
  1. IRS Publication 555

    A document published by the Internal Revenue Service (IRS) that ...
  2. IRS Publication 15 - Employer's ...

    A document published by the Internal Revenue Service detailing ...
  3. Legal Separation

    For all practical purposes, a circumstantial divorce without ...
  4. Child Support

    The monetary payments that are made from one ex-spouse to another ...
  5. Alimony

    Payments made to a spouse or former spouse under a separation ...
  6. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
Related Articles
  1. Retirement

    Become A Certified Financial Divorce Analyst

    Use your financial knowledge to help people preserve their financial integrity after a failed marriage.
  2. Retirement

    Relationship Money Matters

    Whether married, single or somewhere in between, you'll face unique financial challenges.
  3. Retirement

    Divorcing? The Right Way to Split Retirement Plans

    Mishandling how you define and allocate retirement-plan assets in a divorce can cost you plenty in taxes and aggravation. Here's how to do it right.
  4. Retirement

    Marriage, Divorce And The Dotted Line

    Does signing a prenuptial agreement put your marriage on shaky ground, or is it just smart planning?
  5. Retirement

    State Laws Dictate Division Of Joint Property

    In breakup, divorce or death, community or common law will determine how property is divided.
  6. Taxes

    Taxing Times For Divorced Parents

    Find out how to deal with the tax issues that arise for divorced parents with dependent children.
  7. Budgeting

    Get Through Divorce With Your Finances Intact

    Find out how to split your finances without coming up short.
  8. Personal Finance

    Value-Added Tax (VAT)

    Value-added tax, or VAT, is a tax on the added value of a good as it moves through the supply chain to the end consumer. In effect, the tax is levied on the gross margin at each point in the ...
  9. Retirement

    Who is exempt from paying Social Security taxes?

    Learn about the groups of people who qualify for exemption from Social Security taxes, and explore the process of applying for exemption.
  10. Taxes

    Can you write variable costs off your taxes?

    Learn if you can deduct variable or fixed costs from your business taxes and learn more about business deductions, cost of goods sold and gross profit.

You May Also Like

Hot Definitions
  1. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  2. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  3. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  4. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  5. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  6. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
Trading Center