David Draganosky, Shemtob Draganosky Taylor
Major amendments to the Internal Revenue Code resulting from the Tax Cuts and Jobs Act of 2017 became effective on Jan. 1. One of the most significant changes brought about by those amendments is that, for new support order entered on or after Jan. 1, payors of alimony pendente lite (monetary support to a spouse during divorce litigation, also known as spousal support) and alimony can no longer deduct their payments. In addition, payees are no longer required to report such payments as income, for tax purposes.
