Dear Attorneys,
My ex-spouse just served me with a Motion to Modify Alimony. I can understand that with the income loss due to COVID-19, but I am concerned about the tax deduction aspect of it. We got divorced before the alimony laws changed, and I still get a tax deduction for paying alimony. If we modify it, will I still have that deduction? Any help would be greatly appreciated.
Sincerely,
Deduction Debacle
Dear Debacle,
While we can’t say for certain, you would most likely get to continue to receive a tax deduction on the alimony you pay. There is a presumption that the alimony would still remain tax-deductible to you, as the payor, and taxable to your ex-spouse, as the payee. However, if the two of you agree during the modification proceedings to change that, or other factors apply, then it may no longer be tax-deductible/taxable.
Wolf & Shore Law Group is here for you! We will make the process easier for you, not harder. Attorneys Kristen Wolf & Shari-Lynn Cuomo Shore will work tirelessly to help you reach a resolution that works for you, especially if you are working towards keeping your tax deduction. Plus, with over 20 years of combined experience, you will rest assured knowing that they are tenacious enough to protect your best interests, and compassionate enough to help you through this process with ease.
Ever argue with a woman? Let Wolf & Shore Law Group go to work for you. Contact us here, call us at 203.745.3151, or email us at info@wolfandshorelaw.com.
Very Truly Yours,
Wolf & Shore Law Group