Monday, February 21, 2011

As a child Will Support affect taxes?

If you pay or receive child support, the Internal Revenue Service has a set of rules for controlling deductions and exemptions that are allowed to cause the payment or receipt of child support. The terms of your divorce settlement will determine how child support will affect taxes. It is very important to hire a lawyer, family law expert who know the long-term implications of any child support agreement you reach during the divorce process.

Child Support payments are not taxable. His father, making the child support payment it cannot deduct from income and the father of receiving payment you request as income. For child support to remain non-taxable, it must be designated in the final divorce decree as "child support". Although the payment and receipt of child support does not .. post continued

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