Divorce laws are in the process of changing across the nation. Massachusetts residents who have been considering divorce may have heard about these changes. The upcoming changes, particularly those being made to alimony, have the potential to make divorces even more stressful and messy than they are now.
One of the major changes to alimony is how the taxes on it are handled. In the current system, the person paying the alimony is able to deduct the payment amounts on his or her taxes, and the recipient pays a 15% tax on the payments they receive. However, under the new system, these rules will no longer apply. Individuals paying alimony will no longer be able to deduct the payments on their taxes, and the recipients will no longer be required to pay taxes on the funds that they receive.
Although these changes are not expected to go into effect before 2019, couples currently going through a divorce may still be affected. People who know that they will be paying alimony after the divorce is final may be more eager to complete their divorce before the year is over. In contrast, the individuals who will be receiving alimony may wish to postpone their divorce until next year.
Couples who are thinking about divorce may wish to carefully consider these new policies before proceeding. Massachusetts couples who have decided to go through with a divorce could benefit from consulting with attorneys specializing in family law. These attorneys can help couples to communicate effectively with one another when discussing sensitive topics like alimony or child custody.
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