Divorce and Income Taxes After the 2017 Tax Act - Webcast

When:  May 7, 2019
May 2019  
 
Divorce and Income Taxes After the 2017 Tax Act
 
Sponsored by the CBA Trust & Estate Section
 
Program Description
 
For over 75 years, the paying former spouse could deduct spousal support or maintenance payments, also referred to as alimony, for federal income tax purposes while the recipient included the payments in taxable income. The 2017 Tax Act eliminated the alimony deduction for payments made pursuant to a divorce or separation agreement executed after December 31, 2018. The presentation will discuss Colorado’s statutory response to the repeal of the alimony deduction as well as the use of trusts to structure divorce settlements.
 
Another law change under the 2017 Tax Act – the repeal of IRC . 682 – should be considered when creating new trusts and, in some cases, may require restructuring existing trusts. IRC § 682 protected the grantor from the consequences of grantor trust status by providing that, if spouses are divorced or separated under a written separation agreement, the amount of income one of them is entitled to receive from a trust created by the other will be included in the recipient’s gross income, not in the gross income of the grantor.
 
Join us for the May T&E Lunch and get up to speed on these important changes!
 
Register Today!
 

Location

E1 - CLE Large Classroom
1290 Broadway Street, 17th Floor
Denver, CO 80203