Guest post by Beth T. Vogelsang, Esquire, Florida Bar Board Certified Divorce, Marital and Family Law Attorney
On November 2, 2017, House Republicans released an income tax reform bill known as the “Tax Cuts and Jobs Act.” There has been much publicity about the bill’s proposed corporate tax cuts and the purported reduction and simplification of individual income tax rates. One provision of the 492-page bill, which has gone largely unnoticed, is the proposed repeal of the deductibility of alimony payments.
Current IRS Regulations on Alimony
Continue Reading Will Tax Reform Eradicate the Alimony Tax Deduction?