As hard as you try to make your child support payments in full and on time, there could come a point when you realize that this is no longer possible.
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How are Child Support Payments Treated on My Income Taxes?
Let’s say you recently got divorced from your spouse of 15 years with whom you have three children, ages five, seven and nine. Since your spouse received full custody and you are considered the noncustodial parent, a Pennsylvania family law court ordered you to pay $1,000 each month in child support. This is a significant financial burden, and you’re probably wondering if you can receive any kind of tax benefit for making these payments.
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Yes, it’s Possible to Get a Child Support Modification
As you begin to pay child support, it’s your hope that the payment fits nicely into your monthly budget. Although you may not want to pay this money, you know that it’s the right thing to do.
There could come a point when you are no longer able to make your child support payment, such as if you lose your job or become seriously ill and are unable to work for an extended period of time.
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The Top 3 Reasons That Pennsylvania Residents Should Establish Paternity
Paternity or parentage can be established in a variety of ways in Pennsylvania. It can be done voluntarily or through a court order. For married couples, establishing paternity is done rather easily, however, for unwed mothers and fathers, it can become a thorn in their side. These mothers automatically receive custody of their child, however, there is no legal relationship between the father and child.
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Avoid Having To Pay Child Support Arrears With These Techniques
An arrear is basically money that is owed that should have already been paid. Getting behind on your child support payments can have drastic consequences. The amount that you owe will continue grow, due to interest, which can make it seem impossible to pay down. Garnishing of wages, tax refunds, and the suspension of your driver’s license can all take place if you get too far behind. These techniques are designed with the intention of keeping your payments up to date and getting your children the money they need when they need it.
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What Happens When You Fail to Pay Your Child Support?
One of the worst things about divorce is missing out on time with your children. When you factor in the sudden requirement to pay child support, it’s easy to grow resentful and question custody and support decisions and question what an ex is doing with the money you provide each month.
It’s important to remember that no matter how things devolve between you and your former spouse, child support is meant to help your children have an acceptable standard of living and failing to pay child support on time could mean that your children will be forced to go without things they may need.
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