Sharing the wealth may take on a whole new meaning come the new year. As of Jan. 1, newly divorced Massachusetts residents will be experiencing alimony payments in a new way thanks to the federal government. The person making payments will no longer be entitled to a tax deduction while the person receiving the money won't pay any tax on it at all. So, those couples who are thinking about divorcing using the current system had better have their divorces finalized prior to the beginning of 2019.
New tax laws will have an impact on divorce issues. Those laws will have a definite impact on alimony payments in Massachusetts. They take effect on Jan. 1, 2019. So those who are considering divorce should know that as of that time payers of alimony won't be able to deduct those payments from their taxes and those receiving those payments won't have to include the amount as part of their taxable income.
Thousands of couples divorce across the country every year. It can be a very stressful process for everyone involved. Some couples in Massachusetts, as well as other states, find it difficult to get along during the divorce proceedings. Unfortunately, some couples are never able to get along as well as they once did, especially when alimony or other support payments are involved. In fact, there are many ex-spouses who go through a great deal of trouble in order to avoid paying large amounts in alimony, but these extreme measures can sometimes backfire.
Life between ex-spouses after divorce can sometimes be difficult or tense. This may be especially true if alimony payments are involved, as some divorced couples in Massachusetts may have noticed. There are many people across the country who have difficulty collecting their alimony payments and are forced to turn to the courts. However, there are times when the person paying alimony is falsely accused of failing to make payments.
Many Massachusetts divorcees are familiar with support payments. Ex-spouses across the country are required to pay alimony each month. Some of these people, however, do not make their payments on time or at all in some cases. Even celebrities like John Schneider must face the consequences when they fail to make their alimony payments.
Marriage and divorce have changed significantly in recent years. This is partially due to how traditional gender roles have changed over time. In Massachusetts and across the country, it is becoming more common for women to be the family breadwinners. This has had an noticeable effect on divorce as well. More and more women are paying alimony and child support to their ex-spouses rather than receiving the payments.
Many people in Massachusetts may know someone who has gone through or is currently going through a divorce. Some of these divorces may have gone smoothly, but others might have been difficult and ended bitterly. Alimony is one of the many things that can cause difficulties during divorce proceedings. There are some who speculate that the upcoming changes to the Internal Revenue Code regarding the treatment of alimony may result in longer and more expensive divorce proceedings.
Divorce laws are in the process of changing across the nation. Massachusetts residents who have been considering divorce may have heard about these changes. The upcoming changes, particularly those being made to alimony, have the potential to make divorces even more stressful and messy than they are now.
In Massachusetts and elsewhere, the process of going through a divorce can be stressful, to say the least. This may be especially true for couples who no longer get along. Discussions between these individuals can become even more strained, and can sometimes turn vicious when sensitive subjects like alimony are being discussed.
In Massachusetts, there are often financial discussion and agreements made when a marriage ends. These often end with a decision that includes the payment of alimony to one of the spouses. However, in some cases, people waive their right to such payments despite being technically entitled to them. This is what happened in one recent case that may be of interest to our readers.