Blogs

May 19, 2020

The Tax Cuts and Jobs Act’s Impact on Tax Rules for Alimony Payments

The Tax Cuts and Jobs Act of 2017 (P.L. 115-97) overhauled the U.S. tax code, including changes to the tax rules for alimony. One crucial change is the IRS’ treatment of alimony payments. Currently and until the beginning of the new year, §71 of the Internal Revenue Code provides for a deduction of payments...

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