0
0

To amend the Internal Revenue Code of 1986 to make alimony deductible.

12/15/2023, 3:56 PM

Summary of Bill HR 2634

Bill 118 hr 2634, also known as the Alimony Deductibility Act, aims to amend the Internal Revenue Code of 1986 to allow for alimony payments to be tax deductible. Currently, alimony payments are not deductible for the paying spouse and not considered taxable income for the receiving spouse. This bill seeks to change that by allowing the paying spouse to deduct alimony payments from their taxable income, providing some financial relief for individuals going through a divorce.

The bill is designed to provide a fairer tax treatment for individuals who are paying alimony, as it can be a significant financial burden. By making alimony deductible, it may incentivize more individuals to agree to alimony payments during divorce proceedings, as it can help alleviate some of the financial strain.

Overall, the Alimony Deductibility Act aims to provide a more equitable tax treatment for individuals involved in divorce proceedings and may help alleviate some of the financial burden associated with alimony payments.

Congressional Summary of HR 2634

This bill restores the tax deduction for alimony payments.

Current Status of Bill HR 2634

Bill HR 2634 is currently in the status of Bill Introduced since April 26, 2023. Bill HR 2634 was introduced during Congress 118 and was introduced to the House on April 17, 2023.  Bill HR 2634's most recent activity was Sponsor introductory remarks on measure. (CR H2044) as of April 26, 2023

Bipartisan Support of Bill HR 2634

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 2634

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 2634

To amend the Internal Revenue Code of 1986 to make alimony deductible.
To amend the Internal Revenue Code of 1986 to make alimony deductible.

Comments