Common use of Income Tax Clause in Contracts

Income Tax. Except as set forth herein, each party shall be responsible for his/her own income tax liabilities together with interest, penalties and fees, if any and shall file individually beginning the year the divorce decree becomes final. Any additional tax assessments, penalties and interest to be paid on any and all prior joint income tax returns files by the parties shall be paid by both parties equally.

Income Tax. Except as set forth herein, each party shall be responsible for his/her own income tax liabilities together with interest, penalties and fees, if any and shall file individually beginning beginning: (Check one) ☐ ☐ With the year [Year]. The year the divorce decree becomes final. ☐ ☐ ☐ Any additional tax assessments, penalties and interest to be paid on any and all prior joint income tax returns files by the parties shall be paid by both (Check one) parties equally.

Income Tax. Except as set forth herein, each party shall be responsible for his/her own income tax liabilities together with interest, penalties and fees, if any and shall file individually beginning beginning: (Check one) ☐ With the year _________________ [Year]. ☐ The year the divorce decree becomes final. Any additional tax assessments, penalties and interest to be paid on any and all prior joint income tax returns files by the parties shall be paid by (Check one) ☐ Petitioner ☐ Respondent ☐ both parties equally.