TaxWatch: Getting divorced? Time is running out to lock in that tax deduction on alimony payments

There soon won’t be a silver lining to paying spousal support.

Time is running out to lock in a federal tax deduction on alimony payments. President Trump’s new tax code will abolish tax deductions on alimony for divorce decrees on Jan. 1, 2019 and thereafter. “This will create a total reevaluation of divorce cases,” said Malcolm Taub, partner and co-chair of the divorce and family law practice group at Davidoff Hutcher & Citron LLP. “It’s major.”

Peter Walzer, president of the American Academy of Matrimonial Lawyers and a partner at the law firm Walzer Melcher LLP in Woodland Hills, Calif.

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