...Child support and alimony are two areas in which we must review the tax rule.... ALIMONY RECAPTURE . If alimony pursuant to a permanent order decreas...
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...
...Alimony Recapture. The payment of alimony can be accelerated to a ce...
In this document, the Federal Communications Commission comprehensively reforms and begins to modernize the Universal Service Fund's Lifeline program. The reforms adopted in this document substantially strengthen protections against waste, fraud, and abuse; improve program administration and accountability; improve enrollment and consumer disclosures; initiate modernization of the program for broadband; and constrain the growth of the program in order to reduce the burden on all who contribute to the Universal Service Fund.
... improper payment of funds may result in recapture of those payments under the Improper Payments Elim..., veteran's benefits, inheritances, alimony, child support payments, worker's compensation ben...
.... [check] Beware of alimony recapture. Review the alimony decree to avoid the ...
... of those payments ($54,110) constitute alimony as defined in sec. 71(b), I.R.C., and that he is t... (D) thereof), reinforced by a recapture rule (section 71(f)) for 'front-loaded' alimony. D...
...The second rule is a recapture rule which characterizes payments retrospectively ...
An overview of the most pressing issues CPAs need to know about when delving into the world of divorce taxation is presented. If married on the last day of the year, the parties have the option of filing a joint return or married filing separately. There also might be the possibility of one, or both, of the spouses qualifying as head of household. To qualify as such, they must be separated for more than half the year and provide a principal abode for a qualifying child. Generally, the date of separation is the date that earned income ceases to be community. One is deemed to be using a residence as one's residence during any period of time that one's spouse, or former spouse, is granted the use of the home. There are three ways a payment from one parent to the other can be considered to...
...Child support and alimony are two areas in which we must review the tax rule...ALIMONY RECAPTURE. If alimony pursuant to a permanent order decrease...
... solution addresses concerns about alimony recapture, contingencies affecting the classificat...
... and, thus, the ability to pay future alimony, child support or installments for property intere... recipient, are not subject to alimony recapture and can continue after the receiving spouse's deat...
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