Alimony
TCJA provides that after December 31, 2018, and as to new Divorces (and certain modified Divorces) Alimony shall not be deductible from the income to the Paying Spouse and shall not be included in the income of the Receiving Spouse.
The paying spouse shall be thus subject to more income applicable to tax and the receiving spouse shall be thus subject to less income applicable to tax.
Internal Revenue Service Circular 230 Disclosure: As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any plan or arrangement addressed herein.
The information contained in this communication does not reflect the level of factual or legal inquiry which would be applied in the event a formal opinion was rendered by this firm.
Consult your Tax Advisor as to all Tax matters.