philanthropy1217

Charitable and Divorce Planning

Christopher P. Woehrle explains the effect of the Tax Cuts and Jobs Act’s denial of the above-the-line alimony deduction to a payer of alimony.

One of the Tax Cuts and Jobs Act’s (the Act’s) revenue raisers was the denial of the above-the-line alimony deduction to the payer of alimony.1 Beginning in 2019, alimony is neither deductible by the payer nor includible in the gross income of the payee for divorce and separation agreements finalized after Dec. 31, 2018.2 Divorce and separation agreements finalized on or before Dec. 31, 2018 will be governed by the longstanding rule of deductibility and

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TAGS: Philanthropy
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