Ailing Alimony

January 29, 2019

So the new tax treatment for alimony we mentioned back in May is now in effect.  For any new divorces that occur (starting on January 1, 2019) with alimony payments there will be no tax to the person receiving the alimony and no deduction for the person paying the alimony.

Divorces that occurred before the beginning of this year will be on the old system, in which the opposite happened.

If you need clarity on this, then contact us or another CPA to make sure that you know where your specific situation lands.