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Alimony
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Alimony is an amount paid by a person to a spouse or former spouse under a divorce or separation agreement. Usually, these alimony payments provide support to a spouse or former spouse with whom you no longer live. Alimony does not include child support payments or property settlement amounts. Alimony paid is generally tax deductible from gross income on your tax return in the tax year it is paid, even if you do not itemize your tax deductions; but there are requirements and exceptions. Your spouse or former spouse must include alimony in his or her gross taxable income on his or her tax return in the tax year received. Different tax rules apply to alimony agreements entered into or modified at different times.
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Alimony, spousal support, or maintenance is the payment of support from one party to another in order to keep the receiving party in the lifestyle that they were accustomed to during the course of their marriage. Either party may receive alimony. Alimony is ordered by courts far less today than it was many years ago. This is due in part to the fact that many households are no longer one-income households.
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The Child Support/Alimony Office or Central Depository receives and processes payment. If the State Attorney was not involved with the court order, the payment goes directly to the bank, either as a direct deposit to the payee's account (see Direct Deposit) or into the Central Depository account. If the payee has not arranged for direct deposit, a check will be issued to the payee from the Central Depository account.
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Alimony refers to the amount of money that one spouse must pay the other for support and maintenance after the dissolution of marriage. The amount of support one spouse must provide the other following divorce is determined by court order. Alimony is intended to uphold the standard of living both spouses had during the marriage. In the past, alimony was typically awarded to the wife and paid by the husband. However, over time judges began to award spousal support on a case-by-case basis depending on a number of factors.
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Alimony is ... sometimes called spousal support. It's designed to provide the lower-income spouse with money for living expenses over and above the money provided by child support. Alimony is different from child support. Where child support is a simple mathematical calculation using guidelines published by your state, alimony is very much in the discretion of the judge.
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Alimony in gross is alimony that is fixed in amount. It may be fixed in duration (one hundred dollars a week for two years) or it may be fixed in dollar amount (one hundred dollars a week until the sum of five thousand dollars is paid). This can be attractive because generally, alimony is deductible from income for tax purposes, if you're paying the alimony, and conversely, alimony is taxable income to the recipient. This is not true of monies paid for property settlement. Occasionally, parties that are, say, ten thousand dollars apart but looking to settle, may not be that far apart if the payor gets to deduct that ten thousand, when it's paid, for tax purposes. Your lawyer will know when alimony, and what kind of alimony, is deductible, so be sure to ask.
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Alimony