A new tax law, i.e., the Tax Cuts and Job Act (TCJA), affecting in-dividuals and businesses, went into effect January 1, 2018; however, other aspects of the new tax law have a deferred start date such as the tax law that impacts the tax treat-ment of spousal maintenance (often referred to as alimony) payments.
In our next 5 part blog series we will address aspects of the new tax law and how it may affect you if you are contemplating or already in a divorce.
These topics will include:
If spousal maintenance is an issue in your divorce, you may want to file now and try to have your divorce completed prior to the end of the year when the new law takes effect.
Disclaimer: Owens & Perkins is a law firm and we give legal advice, we do not give tax advice. Nothing contained herein or in the upcoming 5 part blog series should be construed as tax advice and we encourage you to seek tax advice from a qualified tax professional.
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