DIY Legal Forms

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Reduction of Support & Maintenance Payment

[Because of Changes in Internal Revenue Code]

(Separation Agreement Provision)

Changes In Internal Revenue Code. Wife acknowledges that the payments Husband is to make for Wife's support and maintenance are based on the assumption that they will be included in Wife's taxable income and will be deductible for income tax purposes by Husband. If, because of changes in the federal income tax laws, all or any part of the aforesaid payments are no longer deductible by Husband, the parties will attempt to adjust the payments on a fair and equitable basis. If the parties are unable to agree on an adjustment, the controversy shall be determined by arbitration in the City of [name] before the American Arbitration Association in accordance with its rules then obtaining.