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Child SupportDo I Have To Pay Taxes On Child Support?

March 10, 20170

When it comes to tax season, people often have all sorts of questions. However, if you recently split up with your spouse, you may have even more uncertainties. For example, you could be wondering if child support payments that you have received are taxable. In Salt Lake City, and every other part of Utah, it is crucial for you to familiarize yourself with all of your post-divorce obligations, which may include understanding how your divorce will affect your tax return.

According to the Internal Revenue Service, you do not count child support payments that you have received as part of your taxable income. In other words, you do not pay taxes on child support payments. Not only are these payments not taxable for the recipient, but those who pay child support are not able to deduct their child support payments either. Having said that, other financial arrangements that arise after a divorce, such as the payment of alimony, may require recipients and payers to include the payments on their tax returns.

If you have yet to file your tax return and are unsure of how a recent divorce may impact your taxes, it is very important to find answers to any questions that still remain. In addition to tax matters, divorce can change life in various ways and lead to financial difficulties if these issues are not handled appropriately.

You should understand that this blog post is being provided for general informational purposes and is not to be seen as any type of substitute for legal advice.

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FOLLOW US

New Orleans Personal Injury Attorney | ©2023 All Rights Reserved | By Strike First Digital

This website is for general information purposes only and may not be used and relied upon as a substitute for or construed as legal advice or legal opinion regarding a specific issue or problem. Attorney advertising does not constitute legal advice. Advice should be obtained from a qualified attorney or practitioner licensed to practice in the jurisdiction where that advice is sought. This website is not an offer to represent you, nor is it intended to create an attorney-client relationship. Any information sent to Cossé Law Firm, LLC prior to establishing an attorney-client relationship is not secure and is done so on a non-confidential basis. Prior results do not guarantee a similar outcome.

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