For tax purposes, “alimony” payments meeting the definition in ' 71 of the Internal Revenue Code (IRC) are taxable to the recipient and deductible by the payor.
Unspecified Tax Purposes in Marital Settlements
Under current law, ' 71(b) of the IRC sets out requirements that are said to be objective and independent of state law, obviating the "subjective" search for the support obligation under prior law. This article discusses two of these requirements.
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