How tax reform could affect the alimony deduction

CongressA House-sponsored tax reform measure making its way through Congress proposes to end the tax deduction for alimony. That would eliminate a tax break for the ex-spouse who pays alimony, and the tax hit for the ex who receives it, according to CNBC. Divorce lawyers may want to rush through any pending cases before the end of the year because of the uncertainty surrounding the proposal, according to one divorce attorney who said his phone started ringing as soon as news about ending the deduction made the news. Read more about how family attorneys are reacting to the possibility in this story at CNBC.