April 2019 Archives

Changes to tax laws impact divorce settlements

In 2019, tax changes have significantly impacted divorce settlements. In 2018, it was announced that alimony would be taxed, and that meant that anyone who finalized a divorce in 2019 would face new tax liabilities. The spouses who pay alimony can't deduct alimony on their taxes any longer, and those who receive it don't have to claim it as income.

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Philip A. Greenberg, P.C., Attorneys at Law
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