The GOP tax law could spark a mad rush to divorce court
Starting in 2019, for the first time in 77 years, alimony won't be deductible for U.S. taxpayers, thanks to the Republican tax overhaul passed in December. That means that the new tax law "could soon lead to a surge in married couples calling it quits," Politico reports, citing divorce lawyers. "Now's not the time to wait," said Mary Vidas, former chairwoman of the American Bar Association's family law section. "If you're going to get a divorce, get it now."
For wealthy divorcés, especially, the deduction meant they could pay roughly 60 cents for every dollar of alimony. Divorce lawyers say the change in the tax law could lead to more contentious divorce cases and lower alimony payments when it kicks in, disproportionally hurting women. But ending the deduction is also projected to raise $6.9 billion over 10 years, helping defray the $1 trillion-plus cost of the tax bill. "This is one of the many provisions of the law that removes special rules applicable only in certain circumstances in order to help simplify the code and reduce tax rates for all Americans," said a spokesman for House Ways and Means Chairman Kevin Brady (R-Texas), who put together much of the tax legislation.
Couples have all of 2018 to "use the alimony deduction as a bargaining chip in their negotiations with estranged spouses," Politico says, but in some states, the clock starts running down fast, thanks to cooling-off periods of up to six months. "You can't just file for a divorce today, and expect that you're going to be divorced tomorrow," said Los Angeles lawyer Ed Lyman. You can read more about the ramifications for divorce settlements at Politico.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The mental health crisis affecting vets
Under The Radar Death of Hampshire vet highlights mental health issues plaguing the industry
By Chas Newkey-Burden, The Week UK Published
-
The Onion is having a very ironic laugh with Infowars
The Explainer The satirical newspaper is purchasing the controversial website out of bankruptcy
By Justin Klawans, The Week US Published
-
'Rahmbo, back from Japan, will be looking for a job? Really?'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Quincy Jones, music icon, is dead at 91
Speed Read The legendary producer is perhaps best known as the architect behind Michael Jackson's 'Thriller'
By Peter Weber, The Week US Published
-
OJ Simpson, star athlete tried for murder, dead at 76
Speed Read The former football hero and murder suspect lost his battle with cancer
By Rafi Schwartz, The Week US Published
-
Momofuku's 'Chili Crunch' trademark uproar
Speed Read The company's attempt to own the sole rights has prompted backlash
By Rafi Schwartz, The Week US Published
-
Kevin Hart awarded Mark Twain Prize
Speed Read He is the 25th recipient of the prestigious comedy prize
By Peter Weber, The Week US Published
-
Is Downton Abbey set to return for a final film?
Speed Read Imelda Staunton reveals that a third movie may be in the pipeline
By Adrienne Wyper, The Week UK Published
-
'Oppenheimer' sweeps Oscars with 7 wins
speed read The film won best picture, best director (Christopher Nolan) and best actor (Cillian Murphy)
By Peter Weber, The Week US Published
-
'Rust' armorer convicted of manslaughter
speed read The film's cinematographer Halyna Hutchins was shot and killed by actor Alec Baldwin during rehearsal
By Peter Weber, The Week US Published
-
The Beatles are getting 4 intersecting biopics
Speed Read Director Sam Mendes is making four separate movies, each told from the perspective of one band member
By Peter Weber, The Week US Published