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Oak Park spousal maintenance attorney2019 will bring a significant change to post-divorce life for many Americans, due to the 2017 federal tax reform legislation that will reverse a provision that dates back seven decades. For divorces which are completed on January 1, 2019 and afterwards, individuals who pay spousal maintenance (alimony) to a former spouse will no longer be able to deduct that amount from their taxes, a deduction which has been allowed since the 1940s. Also, individuals who receive spousal maintenance will no longer be required to declare those payments as taxable income.

This modification is expected to add a substantial amount to the U.S. Treasury’s bottom line each year. In 2010, approximately 600,000 Americans claimed the alimony tax deduction, which added up to more than $10 billion.

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