Alimony


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Alimony

Periodic payments made to a former spouse (or a current spouse from whom one is separated). Alimony is tax deductible for the paying person and is taxable income for the receiving person.
References in periodicals archive ?
For the purposes of this item, it is assumed that the recipient of the alimony payment is a U.
The man allegedly failed to pay the alimony to her which forced her to go to his workplace from where she attacked him in front of his colleagues.
While child support is generally required to be paid until a child turns 18, there is no set period for the payment of alimony, and the length of alimony orders can vary widely.
8220;Instead of permanent alimony, alimony will almost always be limited in duration to not more than one-half the length of a marriage,” explained Charlie Boyle, a marital and family law attorney with the Farr Law Firm.
The subject of alimony has again come into the national spotlight in recent years, and the Massachusetts legislature has taken the lead in rethinking the subject of postdivorce spousal maintenance.
Therefore, it is not binding on him to pay alimony.
Battles will ensue since alimony payers will have less of a tax incentive to be generous to their former spouses.
However, one part of the next tax law is of particular interest to matrimonial practitionersthe elimination of the alimony deduction for the payor spouse and the reciprocal elimination of the requirement for the payee spouse to declare the alimony as income.
31, 201, payers of alimony (or maintenance, as its referred to in New York) will no longer take a federal tax deduction, and the spouse receiving alimony will no longer be taxed on it.
LAHORE -- Alimony cannot be claimed unless the divorced woman has performed conjugal rights ,' the country's top judge observed on Friday.