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The current law in New Jersey concerning alimony states that alimony payments will terminate once the paying spouse has reached full retirement age. This means the age when the paying spouse can finally receive full Social Security benefits.

In the State of New Jersey, if you wish to modify or reduce alimony payments, you will need to prove that you have experienced a substantial financial change in circumstances that renders you unable to continue making your alimony payments as presently required.

Alimony taxation The taxation of alimony on federal tax returns recently changed because of the Tax Cuts and Jobs Act of 2017 (TCJA). Today, alimony or separate maintenance payments relating to any divorce or separation agreements dated January 1, 2019, or later are not tax-deductible by the person paying the alimony.

Prior to 2019, alimony payments were tax deductible for the payer and considered taxable income for the recipient. However, under the new federal tax rules, alimony payments made under agreements executed in 2019 or later are no longer tax deductible for the payer and not taxable for the recipient.

This statute indicates that when the paying spouse reaches the full retirement age for Social Security, there is a presumption that alimony payments should be modified or terminated. However, this presumption can be rebutted by the receiving spouse under certain circumstances.

Ing to federal law, the Tax Cuts and Jobs Act (TCJA) has eliminated alimony both as taxable for the payee and as a tax credit for the payor from 2019 to 2025 for divorces finalized after January 1, 2019.

In the State of New Jersey, if you wish to modify or reduce alimony payments, you will need to prove that you have experienced a substantial financial change in circumstances that renders you unable to continue making your alimony payments as presently required.

Remarriage: If you remarry, you will generally no longer be eligible for alimony, as the assumption is that your new spouse will provide financial support.

Some of the features of this new law include: A ?rebuttable presumption? that alimony payments will end once the payer reaches the ?full retirement age? of 67, unless the recipient can convince a judge that alimony payments should continue.