CNBC quotes National Tax Leader Joseph Perry in an article about the marriage penalty built into presidential candidate Elizabeth Warren’s proposed wealth tax.
By Robert Frank
If a couple is worth $2 billion and split their fortune in half through divorce, they could save $10 million a year. Accountants to the wealthy add that as long as couples follow the legal process of divorce, the Internal Revenue Service wouldn’t likely challenge the strategy. “I don’t know of any cases where the IRS has stepped into a legal divorce and challenged it,” said Joseph Perry, tax and services leader for Marcum.