Alimony has two important tax statuses. If you finalized your divorce before Jan. 1, 2019, the person who collects alimony pays taxes on this money. This means that the person who pays alimony can ...

What does alimony mean and where did it come from? 🤔 Episode 3 of Split Happens explores how alimony works, why it’s not always permanent, and how both parties can navigate financial stress with ...

The tax deduction for alimony is on the chopping block, eliminating the break for the spouse who pays alimony, and the tax hit for the one who receives it. Some 12 million tax returns claimed a ...

Some angry but bottom-line-driven couples are hoping to celebrate the New Year by making sure they finalize that divorce by Dec. 31. The reason? Beginning in 2019, President Donald Trump's tax ...

IRC section 215(a) says an individual who makes alimony payments may deduct them and the recipient must include them in his or her gross income. Under IRC section 71(b)(1), payments must meet four ...

NEW YORK, Nov 9(Reuters) - As soon as the House of Representatives' proposed tax reform bill had hit the news, divorce lawyer Malcolm Taub's phone started to buzz. The tax deduction for alimony was on ...