deductions

Why Do Alimony Tax Law Changes in 2017 Matter in My Divorce?

Important Federal Alimony/Spousal Maintenance Tax Changes:  For divorce and separation agreements or divorces finalized on or after January 1, 2019, the December 22, 2017 tax reforms in the Tax Cuts and Jobs Act (TCJA) eliminated an important and valuable tax deduction for the payer of alimony/spousal maintenance and also eliminated the requirement of the receiver to report these payments as taxable income.

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