Alimony Payments

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.

Alimony Payments

Payments made by one spouse to the other spouse or former spouse under a separation or divorce agreement. Qualified alimony and separate maintenance payments are includible in the gross income of the recipient and are deductible by the payer. Child support payments, voluntary payments, and property settlements are not treated as alimony.
References in periodicals archive ?
All in all, the region was charged with alimony payments of 58 million rubles.
The IRS could simply ramp up its efforts to match up the tax returns between the two partiesand that is not to say the IRS does not inquire in that direction, as many matrimonial practitioners have former clients on both sides who have been questioned by the tax authorities about alimony payments.
But the reform marks what some experts predict may be the year of the divorce, with people across the nation racing to secure final divorce decrees setting alimony payments before years end.
Currently, alimony payments are deductible and also included in the recipients income.
The Milan appeals court also told Veronica Lario, a former actress, to hand back to Berlusconi alimony payments totalling some AaAaAeA@1/460 millio saying she had no right to the money.
com/news/750805/bethenny-frankel-no-longer-has-to-pay-ex-jason-hoppy-nearly-12-000-a-month-in-spousal-support) a judge eventually stopped the alimony payments.
But philandering males can leave the home-and often do-as this allows them to take up with a new partner without being bothered by the encumbrances of divorce, such as alimony payments.
But the Hoff, 63, is allegedly locked in a battle with his previous wife to reduce alimony payments, which he claims leave him with just $600 a month.
They also said it allows alimony payers to retire and make necessary changes in alimony payments when something major in their life changes.
24) Contrary to South Dakota laws, statutory formulas presume an automatic termination in alimony payments at some point in the future.
The treaty's technical explanation further provides that deductible alimony payments made by a U.
Finally, these women who have suffered from not receiving their alimony payments to not being able to see their children because of mean-spirited ex-husbands, are getting some long overdue justice.