Are alimony payments deductible for the payor?

In Mississippi, alimony payments are generally not deductible for the payor. The Tax Cuts and Jobs Act of 2017 eliminated the federal tax deduction for alimony payments. Even if the payor is in Mississippi, the federal law still applies. An exception to this rule might be if the divorce agreement or court order was established before the new federal tax law went into effect on December 31, 2018. In that case, the deduction may still be available. At the state level, Mississippi law does not provide for any deductions for alimony payments. This means that the payor must report and pay taxes on the full value of alimony payments. The payments are still considered "income" for the payee, and they must report the payments on their taxes. Although alimony payments are not deductible for the payor in Mississippi, it is important to understand the rules and regulations of alimony payments according to the state law. The court may order alimony payments, and it is the responsibility of the payor to ensure that the payments are made in a timely fashion. In addition, it is the responsibility of the payor to ensure that all taxes are paid, including any state taxes on alimony payments.

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Are alimony payments deductible for the payor?

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