Answer
@misterking_59 add me i have the same quiz
Explanation:
Answer:
a. How will the $20,000 payments be treated by Fred and Tammy if covered by prior law? b. How will the payments be treated if the divorce is covered by new law? c. What is Tammy's basis in the residence? d. What role would a tax adviser play in a divorce?
Explanation:
a. For Fred, the 20,000 must be included in income. There is no deduction for paying alimony. For Tammy, the amount is not included in income.
b. If the divorce was complete prior to December 31, 2018, Fred can deduct the $20,000 payments as alimony.
If the divorce was complete prior to December 31, 2018, Tammy must include the $20,000 payments in gross income.
c. It's $100.000,00
d. Tax advisors are responsible for determining the value of property given in lieu of cash for an alimony payment.
Answer:
Hope this helps
Explanation:
(iii) Delegated legislation is more flexible than an Act of Parliament. It can be passed quickly and easily amended or revoked, so that the law is up to date. Therefore, it allows rapid change. (iv) Delegated legislation helps in removing the difficulty clause and meet unforeseen emergencies expeditiously.
Press with public interest
