Tag Archives: taxable income

DuPage County spousal support attorneyThere are a multitude of things to think about when you are getting a divorce -- where the kids will live, which one of you will remain in the family home and how you will transition to single life. If you are like most people, taxes are not very high on your list of priorities. Even so, a divorce can have a big impact on your taxes -- especially in this coming new year. In January 2019, the new tax laws will finally be put into full effect and will mean some big changes for the way divorced couples handle their taxes.

Newly-Divorced Couples Will See an Impact on Their Taxes

The Tax Cuts and Jobs Act, which was passed in December 2017, will go into full effect in 2019. The new tax code will affect about half of all Americans. In the context of divorce, the new law will affect the taxes of those who pay and receive spousal support.

This new law will be the first change in 77 years to taxes affecting spousal support. Couples who finalized their divorce before December 31, 2018 will follow the current rules on who pays taxes on spousal support. Couples whose divorces are finalized on or after January 1, 2019 will follow the new set of rules on paying taxes on spousal support.

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 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 incomeIf I file a joint income tax return with my husband this year, will the IRS or the State of Illinois take our refund to pay his past due child support to his ex-wife?

The State of Illinois or the IRS may intercept your combined income tax refund if your husband owes unpaid child support to his former wife (or the mother of his child), even if he is now on a payment plan with the State of Illinois to pay that child support in installments.

Back Child Support and the Treasury Offset Program

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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

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