But for new divorces finalized after 2018, alimony payments are no longer deductible by the payor nor taxable to the recipient at the federal level. States taxes will vary with some, like ...

A nonrefundable credit can reduce your tax liability to zero but not below that. Refundable credits can reduce your liability ...

Killing the alimony deduction is one of the smaller revenue targets for the House Republican tax bill, yet it is exceedingly significant to the people affected. Under current rules, alimony payors ...

the alimony deduction is a bit more complicated. For the paying spouse, alimony payments are eligible for an above-the-line tax deduction, which may help you avoid landing in a higher tax bracket.

In the case of alimony, you may also need to keep records of those payments for tax deductions. Learn more about the the tax implications of receiving or making payments. Alimony is the money one ...

Navigating the complexities of tax season can be daunting, especially when deciding between a tax deduction or a tax credit.

Did you ever wonder if alimony is taxable for the ex-wife. This is because the alimony is paid by husband after paying all ...

In the past, couples could set up alimony agreements that would allow the person making payments to deduct that money from their federal taxes. While those with divorce agreements finalized before ...

U.S. President Donald Trump has not laid out a new law banning parents who receive child support payments from claiming child ...