The final version of the tax plan, which was released Friday and is set for votes next week, eliminates the tax deduction for alimony payments. If the tax bill becomes law, the alimony deduction repeal would affect divorces carried out after December 31, 2018. Right now, alimony payments are tax free for the payer, and they're taxed like regular income for the recipient. Eliminating the alimony tax deduction may also have plenty of spillover implications, complicating how child support is calculated and how assets are divvied up, Zeiderman said. Until this point, those clauses have typically been drafted assuming the alimony tax deduction will be in place.

Source: CNN December 16, 2017 00:25 UTC