Searching for Spousal Support Taxes information? Find all needed info by using official links provided below.
https://www.irs.gov/taxtopics/tc452
Jan 03, 2020 · Tax Treatment of Alimony and Separate Maintenance. Amounts paid to a spouse or a former spouse under a divorce or separation instrument (including a divorce decree, a separate maintenance decree, or a written separation agreement) may be alimony or separate maintenance payments for federal tax purposes.
https://www.irs.gov/forms-pubs/clarification-changes-to-deduction-for-certain-alimony-payments-effective-in-2019
Alimony or separation payments paid to a spouse or former spouse under a divorce or separation agreement, such as a divorce decree, a separate maintenance decree, or a written separation agreement, may be alimony for federal tax purposes.
https://www.investopedia.com/articles/tax/10/spousal-support-taxation.asp
Alimony and child support are the two types of financial assistance that are awarded to ex-spouses, depending on the circumstances. In the past, alimony was tax deductible for the payor and ...
https://www.thebalance.com/alimony-and-taxes-3193082
May 16, 2019 · Starting in the 2019 tax year, alimony payments are no longer deductible—nor does the recipient have to report them as income. That's because the Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, eliminated the alimony deduction from the tax code from 2019 through 2025.
https://www.legalmatch.com/law-library/article/spousal-support---tax-implications.html
The most important tax implication of spousal support concerns which spouse claims a deduction. Persons who pay spousal support to an ex-spouse can deduct the amount of the payment from their taxable income. However, persons who receive spousal support must report it as taxable income.Author: Ken Lamance
https://www.freep.com/story/money/personal-finance/susan-tompor/2018/12/19/divorce-alimony-income-tax-deduction/2310068002/
Dec 19, 2018 · Trump tax rule change has some rushing to divorce before 2019. Divorcing in 2019 and after makes paying alimony far more costly because a key tax break will end.
https://www.lateet.com/can-you-claim-an-alimony-deduction-on-your-2019-taxes/
Before the tax reform, the payer deducted the alimony payment when filing taxes. On the other hand, the IRS taxed the recipient on the amount as income. However, if the payer doesn’t deduct the payment, the recipient won’t be taxed. For pre-2019 alimony payments to be deductible, payers must meet certain time-honored requirements.
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