Do I Pay Tax on Child Support in Illinois?

Ankhanel v. Commissioner, child support in Illinois, child support payments, DuPage county child support attorney, file for child support, Illinois taxes, income taxable, overdue child support, past due child support, tax on child support, taxable incomeChild Support is Not Income Taxable

If you receive child support, you do not have to pay income tax on the support received. Child support payments are excluded from your taxable income by both the IRS and the State of Illinois. Even if you receive a lump sum of child support that is past due, or you collect a child support judgment, these monies remain nontaxable to you.

Child Support and Interest

In Illinois, you are entitled to interest at 9 percent on past due child support. For more information on this topic, please see my blog post, "Calculating Interest on Overdue Child Support in Illinois (or Bring Lots of Paper and Pencils)."

Interest on Past Due Child Support is Income Taxable

While you do not have to pay income tax on past due child support itself, if you receive interest on past due child support, that interest is income taxable and it must be reported on your Federal and State of Illinois income tax return. Please refer to Ankhanel v. Commissioner 76 and T.C.M 809 (1998) for more information.

If you have concerns regarding tax on child support and would like legal counsel, or you are interested in filing for child support, contact an experienced Illinois child support attorney to schedule a free consultation. From our Hinsdale office, we serve clients in DuPage, Cook, Kane, Kendall, and Will Counties.

Recent Blog Posts

Categories

Archives

Free Initial Consultations

phone 630-920-8855
address15 North Lincoln Street, Hinsdale, IL 60521
phone 331-588-6611
address21 North 4th Street, Geneva, IL 60134
Our firm handles family law and personal injury matters for clients in Chicago and throughout the western suburbs including DuPage County, Will County, Kane County, Cook County and the cities of Aurora, Bloomingdale, Bolingbrook, Burr Ridge, Carol Stream, Darien, Downers Grove, Elmhurst, Glen Ellyn, Hinsdale, Joliet, Kendall County, Lombard, Naperville, Oak Park, Oak Brook, Oakbrook Terrace, Clarendon Hills, Oswego, Park Ridge, Roselle, St. Charles, Geneva, Villa Park, Warrenville, Wheaton, Western Springs, LaGrange, Winfield, Woodridge and Yorkville.

© 2020 Law Office of Martoccio & Martoccio 15 North Lincoln Street, Hinsdale, IL 60521 630-920-8855

Share Your Experience

X

Notice: Undefined variable: body_class in /home/ocvsgclo/public_html/domain_hinsdalelawyers.com/templates/Angle180/index.php on line 362