Page 11 - Family Law Services
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Bridge-the-Gap ............................................................................................................................................. 56
Nominal......................................................................................................................................................... 56
Nonmodifiable .............................................................................................................................................. 56
Lump Sum ..................................................................................................................................................... 56
Security for Payment of Spousal Support ......................................................................................................... 56
Insurance ....................................................................................................................................................... 56
Additional Security ....................................................................................................................................... 56
Trusts............................................................................................................................................................. 57
Spousal Support in Property Divisions ............................................................................................................. 57
Social Security .............................................................................................................................................. 58
Chapter 8 — Divorce and Taxes ........................................................................................................................... 59
2017 Tax Cuts and Jobs Act ............................................................................................................................. 59
Spousal Support (Alimony) .............................................................................................................................. 59
Child Support ................................................................................................................................................ 59
Taxation of Support for Agreements Signed Prior to January 1, 2019 ............................................................. 60
IRC Section 71 .............................................................................................................................................. 60
Recapture ...................................................................................................................................................... 61
Electing Out of Taxable and Deductible Alimony ....................................................................................... 63
Divorcing Individuals’ Responsibilities ........................................................................................................... 63
Joint and Several Liability ............................................................................................................................ 63
Audits ............................................................................................................................................................ 63
Innocent Spouse Rules — IRC Section 6015 ............................................................................................... 63
Contingent Tax Liabilities ............................................................................................................................ 65
Hold Harmless Agreement ............................................................................................................................ 66
Timing of Divorce............................................................................................................................................. 66
Filing Status .................................................................................................................................................. 66
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