IMPORTANT FEDERAL ALIMONY/SPOUSAL MAINTENANCE TAX CHANGES: For divorces finalized on or after January 1, 2019, the 2017 tax reforms eliminate the tax deduction for the payer of alimony/spousal maintenance and the requirement of the receiver to report these payments as income. Any divorces finalized before the end of 2018 will continue to be governed by the old law and the deduction and income reporting will still apply. The deduction for alimony/spousal maintenance is a very important and valuable benefit, especially for the receiving spouse.
Nothing but the T.R.U.C.E. Blog
Stacey H. Langenbahn, J.D., Attorney-Mediator
If you are thinking about divorce and you are a parent with a child who will be in school in the fall, you owe it to your kids to call Detente now for our exclusive “May to August” divorce. And if you intend to ask for spousal support, it is imperative to start your divorce immediately so you can finalize it in 2018 before the new tax reforms come into effect on January 1, 2019 when alimony/spousal support will no longer be tax deductible.