Alimony Payment

Alimony Payment

A payment one makes periodically to a former spouse (or a current spouse from whom one is separated). Alimony payments are tax deductible for the paying person and are taxable income for the receiving person.
References in periodicals archive ?
Chief Legislative Analyst Ron Deaton shamelessly contends City Hall fleeces the Valley out of $300 million a year, so that should be the alimony payment.
For the purposes of this item, it is assumed that the recipient of the alimony payment is a U.
The story follows Jane Sidley, a thirty-one year old moderately successful attorney, from the day she makes her last alimony payment to her rat of an ex-husband to the day he becomes a hero, falling from a tenth story window while trying to stop a terrorist bomber, sacrificing his own life to save the lives of Jane and her unborn child, whose paternity is uncertain.
By then a conflicted superstar saddled with a whopping drug habit and massive debts, this a vengeful poke in the eye to his ex is not only a novel way of raising the hefty alimony payment owed but also one of Gaye's best ever LPs.
Any portion of an alimony payment specified in the divorce or separation instrument as payable for child support is not treated as alimony.
In these cases, the parties can increase the alimony payment just enough to compensate the recipient's tax cost, and have the payor still come out ahead.
If you've missed an alimony payment to your American former wife can you expect to be handcuffed and taken away to Alcatraz?
13) Other forms of income the party seeking alimony receives limits the amount of the alimony payment.
According to Bull, the woman wanted the alumnus to buy a life insurance policy to guarantee the alimony payment.
The New York Court of Appeals relied on these two propositions of Goodwin in reaching its conclusion that section 631(b)(6), which effectively denied a nonresident an alimony payment deduction, did not violate the Privileges and Immunities Clause.
I had this alimony payment I had to make," he said.
The written request or consent must state that the payment is intended to be an alimony payment for tax purposes.