View Full Version : Interest on back support?
asking
Apr 5, 2008, 12:45 AM
When people pay back support, do they pay interest on it? Or is it calculated in today's dollars?
Or is not paying like an interest-free loan?
stinawords
Apr 5, 2008, 08:20 AM
Back support does not collect interest. If it did it would count as extra income that would have to be reported to the IRS by the party collecting the interest and the paying parent could write it off on their taxes just as interest on any other "loan". This is true in most states that I have had to deal with.
cdad
Apr 5, 2008, 09:39 AM
It depends on where you live. Calif charges 10% interest on arrears. They have a money making machine going.. lol