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Category: Tax Deductible

New Tax Law Changes: Alimony is No Longer Deductible by Payer

Alimony no longer deductible

New Tax Litigation for Alimony Payments The alimony deduction used to be a rare exception to the general rule that all income is taxable. A provision in the Tax Cuts and Jobs Act (TCJA) eliminates that exception. Under previous law, a spouse who made alimony payments received a deduction for these amounts. The payee spouse… Read more »