Sentences with phrase «receiving alimony payments»

For example, if the party receiving alimony decides to get remarried, the Arizona court has a legal obligation to terminate any remaining alimony payments, unless both parties agreed in the alimony order that the remarriage of the spouse receiving the alimony payments would not have those payments terminated upon remarriage.

According to the U.S. Census Bureau statistics, 98 percent of the 243,000 people who received alimony payments last year were women.

Quebec's court of appeal upheld that judgment, but Wednesday's decision at the Supreme Court reverses that decision, saying the woman's situation has not changed — that she still suffers from multiple sclerosis, continues to receive disability payments and therefore, should continue to receive alimony payments from her former husband.

It is probable that even if you receive alimony payments, you may be required to find employment in order to meet your living expenses.

Considerations include, but are not limited to, whether or not one spouse will receive alimony payments, the earning capacity of both spouses, length of the marriage, contribution of the homemaker if applicable, custody arrangements, and debts and age.

If you are going through a divorce and you think you will have to pay alimony or are hoping to receive alimony payments, contact a lawyer who can advocate for you.

If you receive alimony payments, the payments may cease upon remarriage.

Not exact matches

AGI excludes certain types of income received (e.g., municipal bond interest, most Social Security income) or payments made (e.g., alimony paid, IRA deductions, moving expenses).

Alimony payments received by the former spouse are taxable and you must include them in your income.

Only 15 percent of all divorced women are awarded alimony, and more than one out of four never receive any of the awarded alimony payments.

A person who receives a monthly alimony or child support payment may depend on this support as part of his or her household's income.

Under the previous rules, the spouse seeking maintenance bore the burden of proof as to both the need to receive payments and the ability of the other spouse to pay them, both during the divorce case and as a limited, temporary or long - term alimony award as part of the divorce decree.

In addition to income information, you also need to collect documentation for reporting other tax - related income or losses such as stock gains / losses, student loan interest paid, alimony received, unemployment payments received, property tax paid and more.

You'll also want to gather records for all income sources: paystubs, self - employment profit and loss statements, pension disbursements, social security, alimony and child support payments received.

In general, gross income includes regular compensation, tips, bonuses, gains from a business, gains from selling property, interest and dividends, received alimony or maintenance, Social Security or Veteran's Administration income, disability payments, workers» compensation, unemployment benefits, severance pay, and gambling winnings.

Under both federal and state income tax rules, alimony will be deductible by the payor spouse, and is taxable to the receiving spouse, provided that: (1) the payments are in cash and not in kind; (2) the payments are made incident to divorce or to a separation agreement; (3) the parties have not designated the payments as non-alimony; (4) the parties are not living in the same household; and (5) the payor has no liability for payment after the death of the payee spouse.

In virtually all cases, alimony payments will cease should the party receiving payments remarry.

Alimony recipients have been taxed on the payments they receive.

Spouses receiving alimony will no longer need to pay taxes on that income, but that savings will not likely make up for a significantly lower payment.»

Under the new law, the paying spouse will not be able to deduct alimony payments from income and the receiving spouse will not be required to pay tax on the alimony income.

The person paying alimony is typically able to claim the alimony as a tax deduction, while the person receiving alimony needs to report the payments as income.

The policy should be large enough that it could replace the money you are expecting to receive in alimony and child support payments.

Answer questions about how much child support or alimony you might pay or receive and how long these payments would last.

Courts may order alimony payments as part of a divorce decree and will typically order the paying spouse to make payments directly to the receiving spouse.

Cohabitation, when the party receiving alimony moves in with his or her significant other, will not automatically end alimony payments, but will be considered by a judge if the proper paperwork to terminate alimony is filed.

If a paying spouse falls behind on his alimony payments, the receiving spouse can file a motion asking the court to find the paying spouse in contempt of court and request a wage garnishment for the past - due alimony payments.

If one of your clients expects to receive spousal maintenance or alimony as part of a divorce settlement or court order, you may want to delay finalizing that client's divorce until the beginning of 2019 so he or she won't have to pay tax on the alimony or spousal maintenance payments.

If your divorce is settled with permanent alimony, the spouse with the higher income will have to pay alimony to the spouse with a lower income until the spouse receiving the payments dies or remarries.

(4) «Depository» means the central governmental depository established pursuant to s. 61.181, created by special act of the Legislature or other entity established before June 1, 1985, to perform depository functions and to receive, record, report, disburse, monitor, and otherwise handle alimony and child support payments not otherwise required to be processed by the State Disbursement Unit.

Once referred to as alimony, spousal maintenance is the regular payment of financial support from one ex-spouse to the other, typically to maintain the standard of living the receiving spouse enjoyed during the marriage.

If the payee (person receiving child support) is also receiving alimony from the other parent or is receiving alimony from a previous relationship the alimony payment is considered income to them.

The new tax legislation will necessitate adjustments for many people dealing with alimony payments - both paying and receiving.