Divorces Database January

The New Year holds new opportunities and may be just the reminder someone needs to get their life in order. Some people may decide that their New Year’s Resolution is to get out of an unhealthy marriage, leading to January divorce.

January is ‘divorce month,’ and this year brings new tax rules for couples who split up

The Tax Cuts and Jobs Act enacted new tax rules regarding spousal support payments, also known as alimony.
In divorces finalized after January 1, 2019, the person paying spousal support can no longer deduct the amount from their taxes.
For recipients, spousal support payments are no longer considered taxable income.
The result is an increased tax burden on the spouse paying alimony, and ultimately, more money for the government.