Am I required to pay taxes on child support payments?

When couples decide that divorce is necessary, a number of questions may arise. From spousal support to the custody of children and child support, divorce can change lives in various ways. Moreover, people in Boston and throughout Massachusetts may not realize that separating from their spouse can affect them in other respects, such as having an impact on their income tax return. During tax season, it is especially important for you to understand any tax obligations you may have following a recent divorce.

On their website, the Internal Revenue Service states that you do not include child support payments when calculating your gross income. Basically, if you are trying to figure out whether or not you are required to submit a tax return to the IRS, you will not count any child support that has been paid to you. If you are a non-custodial parent who has been paying child support, you should also realize that these payments cannot be deducted either.

If you feel overwhelmed after going through a recent divorce, you should try to stay focused and develop a solid understanding of your responsibilities. When it comes to filing an income tax return, it is vital to make sure that you are well aware of your obligations, which may change after a divorce. For example, if you pay or receive alimony, that could have an effect on your taxes.

This post is offered to provide helpful information on child support and taxes and is not to be viewed as a replacement for legal recommendations.

 

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