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alimony Archives

How will receiving alimony affect my tax obligations?

In a matter of weeks, New York residents will be required to have their taxes filed with the Internal Revenue Service. Tax time can be stressful for individuals who receive income from a variety of sources, such as wages and tips, investment dividends and inheritances. Additionally, individuals who receive alimony or spousal support from a former partner may be confused as to whether the payments they received over the last year must be included in the annual tax accounting.

You may be required to pay alimony after your divorce

Divorce is not uncommon, although it is impossible to say that any two divorces between Oneida County residents are alike. The spouses in different marriages make different contributions to the success of their unions, and the ways that couples approach childrearing and financial decisions can look very different as well. As such, whether a person will be required to pay child support or alimony after a divorce is completed will depend on the facts and circumstances of the particular case.

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