Tag Archives: Tax-Deductible Alimony Payments
Federal Income Tax and Divorce: Frequently Asked Questions
If you are going through a divorce, taxes may be one of the last things on your mind. Of course, Tax Day is on its way, and many federal income tax issues can derail your financial situation and intensify your stress and the complications of your divorce proceeding down the line. Do you have… Read More »
Tax-Deductible Alimony Payments: How to Ensure Yours Are Deducted
Not all alimony payments qualify for federal tax deductions, but many do. If ensuring your alimony payments are tax-deductible is important to you, you must comply with the IRS requirements. There are seven specific IRS requirements imposed on alimony payments to ensure that they are tax-deductible, listed below: Payments must be made in cash… Read More »