Taxes and alimony agreements and modifications
On behalf of Stange Law Firm, PC posted in divorce on Saturday, March 2, 2019. This tax season is the first year that residents in Illinois will be filing returns based on a majorly revised tax code. The new Tax Cuts and Jobs Act has taken full effect and for divorcing or divorced couples, this law has ushered in some significant changes that you should be aware of. As explained by MarketWatch, taxation for spousal support payments is getting a lot of attention these days. Historically, the person who received alimony was required to claim the money as income on their