An Act relative to the tax status of alimony
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill addresses the tax treatment of alimony payments in Massachusetts. Currently, alimony is taxable to both the payer and the recipient. This bill proposes to treat alimony as non-taxable to both parties, aligning Massachusetts law with the federal tax code. It aims to simplify tax reporting for individuals undergoing divorce or separation.
Key provisions
- Alimony payments will no longer be considered taxable income to the payer.
- Alimony payments will no longer be considered taxable income to the recipient.
- The bill seeks to harmonize Massachusetts tax law with federal tax law regarding alimony.
- The bill applies to alimony payments made after its enactment.
- The bill does not affect existing alimony agreements.
- It clarifies the definition of ‘alimony’ for tax purposes.
- The bill establishes a process for amending existing tax returns to reflect the new rules.
Who is affected
- Individuals receiving alimony
- Individuals paying alimony
- Taxpayers in Massachusetts
- Divorced or separated individuals
- Tax professionals
Notable changes
- Currently, alimony is taxable to both the payer and recipient; this bill would change that.
- This aligns Massachusetts law with the federal tax treatment of alimony.
Bill text
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Sponsors
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2 on record
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Cosponsor
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