Neither Party Receives a Child Support Tax Advantage
There may be a nasty surprise in store for people in Hampton Roads and around Virginia who negotiated their own divorce settlement in 2019 without the assistance of divorce attorneys and believe they can take a deduction for the Virginia spousal support they pay. When Congress passed the federal tax overhaul in 2017, it eliminated the alimony deduction beginning with the 2019 tax returns that taxpayers will file this year. The new tax law brings good news to those receiving spousal support based on a Virginia Order because they may no longer need to declare it as income.
Taxpayers need to educate themselves about the new tax law because of the possibility that the old law that made alimony payments deductible may continue to apply to them. It may also be a good idea for people paying or receiving spousal support to consult experienced Newport News alimony attorneys about options available to them under the new law.
Overview of Virginia Spousal Support
Virginia child custody laws require that child custody issues must be decided when a court grants a divorce where custody is at issue. Child custody attorneys usually attempt to avoid the uncertainty of leaving the decision to a judge by negotiating a child custody agreement. A child support attorney may rely upon an agreement between the parties, but as with cases under Virginia child custody laws, the ultimate decision may be left up to a judge after a hearing in a family court.
Child support and custody attorneys know that divorce and child custody disputes cannot be finalized until settlement of all child support, custody and visitation issues. In contrast, alimony is not a certainty.
Spousal support under Virginia law must be requested by the party in need of it, and it can be denied to a party who committed adultery under certain circumstances.