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New tax law complicates rules governing divorce settlements (access required)

Maintenance payments will no longer be deductible or taxed as income

  The recently passed federal Tax Cuts and Jobs Act could have a big impact on some financial aspects of divorce. Under the new law, spousal support is no longer tax deductible, and it won’t be taxed as income for the receiving spouse. The standard deduction will roughly double to $24,000 for married couples who file jointly and ...
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