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alimony payments
3.204 documents for alimony payments
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Whether a payment made by a taxpayer to a former spouse under a divorce or separation instrument constitutes deductible alimony by the payer is often controversial. To be deductible as alimony by the payer, the payment must satisfy the requirements of IRC section 71. A recent Tax Court decision involving the payment of military retirement benefits under the Uniformed Services Former Spouses' Protection Act (USFSPA) to the former spouse of a retired serviceman sheds light on the treatment of alimony payments. The USFSPA gives state courts the authority to treat military retirement pay as marital property and to divide it, pursuant to a divorce or separation instrument, between the retired service member and former spouse. The payment of retirement benefits under a divorce or separation i...
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About 12,000 couples divorce each year in West Virginia, but there's little if any way for couples to know how much alimony they can expect to receive or pay. That may soon change.
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The US Supreme Court in Lunding v. New York ruled that New York state's denial to nonresidents of its alimony deduction, where the payments were made outside of New York, is in violation of the Privileges and Immunities clause. The unconstitutional discriminatory tax laws consisted of a complex calculation which included adjustments for New York source income. The court found the disparity in treatment was not supported by the state's arguments.
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The traditional idea that post-divorce alimony payments should last "until death do us part" may itself be on its deathbed. By a unanimous vote Thursday of its state Senate, Massachusetts joined a growing number of states that are junking the old model of virtually unlimited support payments to an ex-spouse.
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Voluntary alimony payments qualify as itemized deductions from gross income under the Internal Revenue Code, the U.S. Tax Court has ruled. A husband and wife divorced after 13 years. A court order required the husband to provide an annual accounting of payments he made to his ex-wife, but the order also specified that "there was no legally actionable duty on [his] part to make any payments." Out of concern for his children's welfare, husband paid his ex-wife $2,000 per month in alimony.
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NASHVILLE - The Tennessee Supreme Court Friday reversed a lower appeals court decision to award long-term and lump-sum alimony to a suburban Nashville woman who is in good health, has a stable and relatively well-paying job and received significant assets in the divorce. The divorce case of Johanna and Craig Gonsewski of Hendersonville had been watched by family law attorneys because the earlier Court of Appeals ruling reversed years of precedents that limited lifetime alimony for former spouses who are not in especially difficult circumstances.
