Monday, November 12, 2018
This December Don’t Dread Divorces
by John Fiske
Thanks to the 2017 federal Tax Cuts and Jobs Act of 2017, (“TCAJA”), divorce lawyers and mediators know that December will be a busy time and some of us may be working right up to the bell on Monday, December 31st. Under the TCAJA the alimony exclusion has been repealed for all separation agreements executed after this December (technically you could say the alimony exclusion is suspended, because the TCAJA repeal expires on December 31, 2025).
We can only imagine the conversations we will be having in December with clients who call us looking for a divorce and learn they have less than a month to write a separation agreement if they want to preserve the ability...