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To qualify for alimony in Indiana, the spouse seeking support must meet one of the following conditions: ... However, recipients would owe regular income tax on the amount they receive.
On or after January 1, 2019: The Tax Cuts and Jobs Act (TCJA) changed the alimony tax implications. If the divorce was finalized after 2018, alimony payments are no longer tax deductible for the ...
Under the old, pre-2019 alimony tax rule, filers could deduct alimony payments on their Form 1040, ... 2019, the previous rules apply to you if you were divorced by Dec. 31, 2018. If you were, you ...
The Uniform Reciprocal Enforcement of Support Act (URESA), passed in 1950, concerns interstate cooperation in the collection of spousal and child support. [1] The law establishes procedures for enforcement in cases in which the person owing alimony or child support is in one state and the person to whom the support is owed is in another state (hence the word "reciprocal").
The Tax Cuts and Jobs Act made a big impact on filings for tax year 2018. From nearly double the standard deductions to new tax brackets, last year's tax filers had to adjust to changes to their...
This tax applies only if it exceeds regular income tax and is reduced by some credits. Additional Medicare tax: High-income earners may also have to pay an additional 0.9% tax on wages, compensation, and self-employment income. [14]
Alimony has two important tax statuses. If you finalized your divorce before Jan. 1, 2019, the person who collects alimony pays taxes on this money. This means that the person who pays alimony can ...
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