Over the last few years, there have been various attempts to “reform” Florida alimony laws. In April 2016, Governor Scott vetoed a bill due to a provision that had to due with a presumption that 50/50 time-sharing schedule was in the best interest of children. With the beginning of a new legislative session, a version
Alimony
Alimony Deductibility and the IRS
Whether you pay or receive alimony, the tax implications of alimony are far-reaching. Generally, alimony is taxable as income to the recipient and tax-deductible for the payor. However, the IRS is not bound by a state court order that labels a payment from one party to another as alimony. Simple labeling a payment as alimony
