On April 19, 2017, the DHFS has made available charts for the calculation of child support based on the July 1, 2017 income share model. Chart for Conversion of Gross to Net Income Income Shares Scheduled Based on Net Income1 A quick review of the charts indicates that: The highest … [Read more...] about Income Shares: The Charts!
Income Shares Legislation Update and Status re Charts SB0069. Status: 100th Ill. Gen. Assem., Senate Bill 0069 (introduced 1/1/17 and arrived in House 4/5/17). Illinois divorce lawyers handling child support cases are anxiously awaiting the progress and passage of the so called "trailer … [Read more...] about Income Shares in Illinois Update
On June 9th in Bloomington, Illinois Gunnar J. Gitlin co-moderate a seminar for IICLE titled, "Child Support and Maintenance: What's on the Horizon? Income Shares and the Future of Maintenance and Child Support in Illinois." See more at: … [Read more...] about Gunnar J. Gitlin Moderated and Presented for IICLE’s Income Shares Seminar June 9, 2017
This Martin Luther King Day, Gunnar J. Gitlin presented: "Double Dipping: What is it and how to Handle Issues Involving Double Dipping Involving Child Support/ Maintenance and Property Settlement" The program was at the Sheraton in Lisle. Business Valuation, Financial & Tax Issues in Divorce … [Read more...] about Gunnar Gitlin Presented for MLK Seminar January 16, 2017 Re Double Dipping
With the passage of income shares legislation (Pub. Act 100-15), Illinois law regarding child support dramatically changes. Prior to the passage of the income shares legislation, Illinois had comprehensive changes to its family laws in virtually all areas other than child support. This is because … [Read more...] about Income Shares Comes to Illinois
Taxes affect the calculation of child support and therefore the issue based upon the income shares legislation about whether we base child support on gross income or net income will have a significant effect. Key language in the income shares legislation was a compromise allowing the critical tax … [Read more...] about Income Shares and Standardized Versus Individualized Taxes