Wednesday, December 27, 2017
From USA Today:
NEW YORK — Congress' giant tax overhaul is poised to reach virtually every corner of American life — even Splitsville.
Republicans delivered their sweeping plan to an exultant President Donald Trump, who signed it into law Friday. One provision scraps a 75-year-old tax deduction for alimony payments. The new rules won't affect anyone who divorces or signs a separation agreement before 2019.
Many divorce experts worry that the change will make negotiations tougher and lead to less spousal support as cash goes to taxes instead. Congressional tax writers say it's only fair to married couples.
Read more here.