Changes to the Tax Treatment of Alimony
Alimony is often a factor in many divorces. In the past, alimony was typically a tax deduction to spouse paying alimony and taxed as income to the spouse receiving alimony. The tax bill passed by the United States Congress on December 20, 2017 contains a significant change to the tax treatment of alimony.
The new tax bill, as passed by Congress, provides that alimony will no longer be deductible to the paying spouse or taxed as income to the spouse receiving alimony. This will apply to divorces entered after December 31, 2018. It will not apply to those already paying alimony or divorces finalized prior to December 31, 2018. This is a significant change and may impact many families as they go through the process of divorce.
Our office currently assists individuals with divorces, alimony modifications and other support cases in Duval, Clay, and Nassau Counties in Florida. If you have questions regarding a divorce or alimony, please contact us to schedule a consultation at (904) 387-3334.
This article is not meant to be all-inclusive or a substitute for legal advice from a licensed attorney in your own jurisdiction. If you are involved in a legal matter and have questions, you should contact a competent attorney in your own jurisdiction. This information is further not intended to be tax advice. Please contact a licensed tax professional for advice if you have tax related questions.
K. Beth Luna, Esq. is licensed in Tennessee, Florida and Nevada. The information provided is based upon Florida law only. If you are looking for information for another jurisdiction, please contact an attorney in that area. The Luna Law Firm handles family law matters in Jacksonville, Florida, Clay County, and Nassau County. Contact the Luna Law Firm today 904-387-3334 to schedule a consultation to discuss your Florida family law matter.