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Family Law Tax

Read Family Law updates, news, and legal commentary from leading lawyers and law firms:

Divorce Can Be Taxing: How the New Federal Tax Law Impacts Your Family Law Decisions

Everyone is buzzing about the new tax overhaul recently passed by Congress. How does it impact you and your family law choices for 2018 and beyond? In a four-part blog series, we will address the consequences of various parts...more

Making Sense of Recent Law Changes

by Burns & Levinson LLP on

Happy New Year, all! May 2018 bring you health, happiness, and prosperity. The federal Tax Cuts and Jobs Act, in conjunction with Massachusetts’ Alimony Reform Act, will bring the Commonwealth’s divorce practitioners and...more

The New Year’s Resolution Divorce

by Fox Rothschild LLP on

For many divorce attorneys, the busy season starts after the first of the year. For the last several years, I have posted on the phenomenon of the New Year’s Resolution Divorce. For whatever reason, this post has struck a...more

The Revised U.S. Tax Code’s Impact On Alimony

By now most people are aware of the impending changes to the U.S. tax code brought about by the GOP tax bill, dubbed the “Tax Cuts and Jobs Act,” which Congress voted to pass on December 20, 2017. These substantial changes,...more

Divorce Planning: How Tax Reform Could Affect Your Decisions

by Lewitt Hackman on

Under the current tax law, individuals making spousal support payments may deduct the payments on their tax returns. Conversely, the individual receiving alimony must count those payments in his or her gross income....more

Will 2018 Be The Year Of The Divorce – Will The New Tax Laws Cause A Race To Get Divorced By 12/31/18?

by Fox Rothschild LLP on

Since the first go round of the proposed massive revisions to the tax code were announced several weeks ago, matrimonial lawyers, litigants, accountants, etc. have been in a veritable tizzy over the prospect that one of the...more

Spousal Support Deduction: Breaking Up Is Hard[er] To Do After Tax Reform

by Fraser Trebilcock on

The final version of the tax reform bill was released Friday, December 15, 2017 and is set for votes this week – and it will pass and become law. Among the many changes, the final bill eliminates the tax deduction for spousal...more

Alimony About To Experience An Untimely Death

by Fox Rothschild LLP on

As this is written, the House and Senate this week are scheduled to vote upon a conference report of both houses of Congress which will “reform” tax law in a major way for the first time since the Reagan administration. In...more

Personal Planning Strategies - December 2017

by Proskauer Rose LLP on

2018 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

Big Divorce Change: First Draft Of House Tax Reform Bill

by Fox Rothschild LLP on

Any American with a pulse knows that 2017 was to be the first overhaul of U.S. Tax Law since 1986. Until this week, what was circulating through Washington was an 18 page executive summary. That changed yesterday when the...more

A valid marriage is required to file a Joint Return. What is a valid marriage?

by Sanford Millar on

Assuming that you have a valid marriage for federal income tax purposes, as defined in “Section 301.7701-18(b) (1) of the Procedure and Administration Regulations that a marriage of two individuals is recognized for federal...more

Legislation to Provide Equal Tax Treatment for Married Same Sex Couples

by Pessin Katz Law, P.A. on

On July 13, 2017 Rep. Richard E. Neal (D-MA-1), joined by other members of the U.S. House of Representatives, introduced H.R. 3234, Refund Equality Act of 2017, which has been referred to the House Committee on Ways and...more

Edith Windsor: Saying Farewell to a Brave Woman

by Bowditch & Dewey on

In law school, I wrote papers on the tax consequences of death and divorce for same-sex married couples. The conclusions I drew in those academic exercises included advising same-sex married couples to plan for tragedy well...more

She Should Have Known – Spouse Denied Tax Relief

by Pessin Katz Law, P.A. on

In Ryke v Commissioner (U.S. Tax Court, TC Memo 2017-144, Docket No. 20587-15, July 25, 2017) a doctor claiming innocent spouse relief for unpaid taxes was denied the same because she knew or should have known of the tax...more

Dividing IRAs in the Context of a Divorce – No Good Deed Goes Unpunished

by McNair Law Firm, P.A. on

The recent United States Tax Court case of Jeremy Ray Summers v. Commission, T.C. Memo 2017-125, is an example of the old adage that “no good deed goes unpunished.” The case also highlights how sometimes form triumphs over...more

Employment Law This Week: NLRB’s “Quickie Election” Rules, Layoff Doesn’t Violate FMLA, Plans Exempt from ERISA, Amended...

by Epstein Becker & Green on

We invite you to view Employment Law This Week® - a weekly rundown of the latest news in the field, brought to you by Epstein Becker Green. We look at the latest trends, important court decisions, and new developments that...more

Estate Planning and Prenuptial Agreements: Tax Implications of Alimony

by McNair Law Firm, P.A. on

When contemplating marriage and estate planning, frequently, individuals will enter into prenuptial (premarital) agreements to address their rights and obligations during the marriage and in the event of a divorce or death. A...more

More on Transfer Tax Issues Post Windsor and the Legalization of Same-Sex Marriage

by Bryan Cave on

In a recent Notice, the Internal Revenue Service set forth some administrative procedures helping taxpayers recalculate gift and generation-skipping transfer tax exemption with respect to gifts and bequests made to or for the...more

Wealth Management Update - May 2017

by Proskauer Rose LLP on

May Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

Ad Valorem Tax Values and Equitable Distribution

In many equitable distribution cases, where the value of real estate is an issue, the parties at least in negotiations debate the relative accuracy of the ad valorem tax value (“Tax Value or Tax Values”) of the property as a...more

QDOT-ting I's and Crossing T's: Estate Tax Planning for Non-United States Citizen Spouses

by Ward and Smith, P.A. on

Individual and corporate citizens from countries around the world have moved to North Carolina and contributed materially to our state's economic, educational, and cultural growth. Foreign direct investment ("FDI") in North...more

State and Federal Tax Law Developments Affect Same-Sex Couples and MA Residents with Out-of-State Real Estate

by Goodwin on

Recent changes in state and federal tax laws impact same-sex couples and any Massachusetts residents who own real estate in another state. Clients who may be affected by these changes should act soon to protect the...more

When the Wall of Secrecy Collapses

by Foodman CPAs & Advisors on

Foreign Accounts, Shell Companies, Blind Trusts, Asset Protection Trusts, Offshore Trusts, Global Citizenship and US Residency are just a few of the Terms highlighted in the mega divorce proceedings of a Palm Beach County...more

Children, Taxes, and Divorce

In many family law settlements, whether they are obtained voluntarily through an agreement or the result of litigation ending in a court order, certain provisions are made for minor children, including the support of the...more

Estate Tax Impact of Life Insurance Required by Divorce

by Charles (Chuck) Rubin on

Please see chart below for more information....more

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