Tax Code Overhaul Causing Confusion for Matrimonial Lawyers, Couples - Articles

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Posted by: Katharine Heriges on May 29, 2018
President Donald Trump’s tax code overhaul is throwing divorce calculations into turmoil as matrimonial lawyers, mediators and couples try to reach financial settlements in divorce proceedings, the ABA Journal reports. Previously, alimony payments were tax deductible, and recipients paid taxes on it, but that will change under the new law. The uncertainty has caused some couples to rush to split before the law takes effect on Dec. 31.