Possibly the most significant current potential change in federal income taxation with the most direct impact to general practitioners is proceeding through Congress, denominated the “Domestic Relations Tax Reform Act of 1983.” If enacted, which is probable, the new Act will dramatically change the way taxation affects property transfers during marriage and at the time of divorce, the way alimony payments are treated, and the manner in which child support and dependency exemptions are to be considered. All of these factors are of crucial importance to attorneys involved in dealing with community property and divorce.
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