Pursuant to the Tax Cut & Jobs Act of 2017, beginning in January of 2019, any Decree of Dissolution of Marriage entered after January 1, 2019, where alimony is awarded to a party, the party receiving the alimony was no longer required to claim the alimony as income and the person paying the alimony was no longer eligible to deduct the alimony from his/her income. The Biden Administration could change this legislation to […]
Alimony & Tax Consequences
By Simpson Legal Group LLC Feb 17, 2021 Posted in Articles