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New Tax Implications for Spousal Support & Alimony

With the new tax overhaul in late 2017 also came some interesting changes for spousal support and alimony payments. Set to take effect in 2019, spousal support and alimony payments will no longer be tax-deductible on federal income tax. Until this change, ex-spouses making support payments were eligible to deduct these payments from their taxes. […]