QUESTION
Am I responsible for 401k distribution my x did without me knowing?
Asked on Mar 30th, 2017 on Divorce - Wisconsin
More details to this question:
January 2015 my then wife cleaned out her 401k not telling me. I filed for divorce in March of 2015 and we filed our taxes together. She never disclosed to our accountant or throughout our divorce that she did this. We divorced May of 2016. I received a letter today from the IRS that we owe taxes and penalty. Am I liable? Is this a federal crime? What can I do?
1 ANSWER
4 Awards
Did your ex wife disclose in her financial disclosure statement as part of your divorce case that she had cashed in or taken money out of her 401k? How was her 401k divided up in the divorce? You may be able to bring a motion under s.767.125 (5) or 806.07 to reopen the judgment to consider the tax consequences. You need to talk to an experienced family lawyer about this ASAP.
Answered on Mar 31st, 2017 at 5:08 AM
David B. Karp Karp & Iancu, S.C. 933 North Mayfair Road #300 Milwaukee, WI 53226 414 453 0800 dbk@karplawfirm.com www.karplawfirm.com