It's coming upon that time of year when many Kentucky residents are preparing their tax returns. This year will be different for those who were divorced and began receiving alimony in 2016. Various issues can arise if one is not fully aware of all tax laws and how spousal support may impact one's tax return.
Those on the paying end of alimony may actually be glad when tax season rolls around. This is because they can claim their payments as deductions. The Social Security Number of the recipient is used by the payer, who gives the number to the Internal Revenue Service so it can verify the amount claimed.