Forbes – How Tax Reform Could Radically Change Divorce
A proposed dramatic change to the tax rules of divorce in the House Republicans’ tax reform bill (the Tax Cuts and Jobs Act) would undoubtedly create additional burdens to couples getting divorced if it becomes law.
The bill would eliminate the tax deduction for alimony and make alimony income tax-free to the recipient for divorce decrees executed after December 31, 2017; it wouldn’t affect existing divorces. It’s unclear whether the Senate Republicans’ tax reform bill, due to be released today, will include a similar provision.
Read the rest of Malcolm Taub’s oped here.