One law enacted a strict formula for alimony awarded during the process of divorce.
They also point out that the AAML recommended similar alimony guidelines in a recent report.
As a bonus we might get rid of the alimony deduction and the corresponding income pickup.
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If you make court-ordered alimony payments, you can deduct those on your federal income tax return.
Former Major League baseball player, Dave LaPoint was denied alimony deductions under that theory.
She thinks that she can take the kids and get child support and alimony.
That was so for Keith Robert Caldwell, audited repeatedly over alimony payments he made to his ex-wife.
Another concern is that courts order insufficient alimony payments and too often favour men in custody cases.
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Alimony to an ex-spouse may seem like income to the recipient, but is actually just a transfer.
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In some extreme cases, payor spouses were forced to pay more in alimony than they earned each month.
The commission rejected the idea of a including formula regulating the length of alimony awards in its report.
Any amounts paid in excess of that required by a written instrument are not considered deductible alimony payments.
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To figure if the rule applies to you, total your alimony payments in each of the three years.
"Frankly, that group is holding us up, " said Westchester Assemblywoman Amy Paulin, the primary sponsor of the alimony law.
She requested the increased alimony payments to pay her medical and living expenses.
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If on September 1, 2007, Ms. Charles had been dead, Mr. Chiavacci would have had no further alimony obligation.
On her 2006 Federal income tax return petitioner reported zero taxable alimony income.
Ivana also got a nice set of alimony and child support payments to keep her going in the future.
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Alimony or spousal maintenance if structured properly is income to the recipient spouse and deductible by the payor spouse.
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Divorce lawyers have used information in social-media posts to extract higher alimony payments from indiscreet spouses, experts and lawyers report.
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The law changed how temporary alimony is awarded during a divorce, providing a strict formula that replaced some judicial discretion.
Besides dividends and interest, other sources of unearned income include capital gains, gambling winnings, alimony, Social Security payments, pensions and annuities.
There are rules to prevent payments that are, in essence, child support payments or property settlements from being characterized as alimony.
The legal wrangling resumed in 1989 when she filed motions to increase the alimony while he sought to decrease or eliminate it.
He thought that he should be able to deduct that as alimony.
Under the law of the state of Ohio, spousal support payments terminate on death, which is good enough to preserve alimony treatment.
Alimony, on the other hand, is deductible against adjusted gross income to the payer and includable in the income of the payee.
Final alimony awards are currently negotiated on a case by case basis.
Only a handful of states currently use formulas to govern alimony awards.
He was ordered to pay alimony as part of the divorce settlement.
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