Module 7 - Spousal and Child Support Flashcards
(27 cards)
What are arrearages in the context of spousal or child support?
The difference between the amount of spousal or child support paid, if any, and the amount required under court order.
What is the Childcare Credit?
A nonrefundable childcare tax credit available to the custodial parent who pays for child or dependent care expenses.
What does the Child Contingency Rule state?
If spousal support specified in the divorce decree is reduced due to a child-related contingency, the reduction is treated as child support.
What is child support?
The amount of money paid by a non-custodial parent to the custodial parent for a child’s day-to-day expenses and special needs.
What are Child Support Guidelines?
A series of mathematical formulas used to calculate the amount of child support to be paid.
Who is the custodial parent?
The parent with whom the child(ren) live the majority of the time.
What does custody usually refer to?
The parent’s right to have a child live with them and make decisions concerning the child.
What is garnishing in the context of support payments?
The act by which support money is obtained from the non-paying spouse’s employer.
What is joint custody?
The arrangement where children live with the residential custodian and visit the non-residential parent, with both parents having equal say in major decisions.
What is maintenance in family law?
Same as spousal support and alimony.
What is modification in legal terms?
A change in the judgment based on a change in circumstances.
What is the Multiple-Reduction Rule?
If spousal support payments are reduced on two or more occasions related to multiple children, the reduction is presumed to be child support.
Who is the non-custodial parent?
The parent with whom the children do not live the majority of the time.
What does physical custody refer to?
The parent with whom the children will primarily reside.
What is a primary caregiver?
The person who usually takes care of the children, considered in custody decisions.
What is rehabilitative maintenance?
Temporary financial support given to an ex-spouse until they can support themselves.
What does the Revenue Act of 1942 require about spousal support payments?
Certain spousal support payments must be included in the recipient spouse’s income.
What does Section 32 EITC IRC state?
The custodial parent is entitled to an increased earned tax income credit if they have a qualifying child.
What are Section 71 Payments?
Alimony and separate maintenance payments that are generally taxable to the recipient and deductible by the payor.
What is the Six-Month Rule?
Spousal support payments are to be reduced not more than six months before or after the child reaches a certain age.
What is sole custody?
The custodial parent has the power to make all decisions concerning the child without consulting the non-custodial parent.
What is spousal support?
Money paid by one spouse to the other for the recipient’s support following the divorce.
What is spousal support recapture?
Recapture requirements apply if excess alimony payments are front-loaded into the first three post-separation years.
What is the definition of spouse?
Husband or wife.
