What does a true-up mean?
When you or your ex-spouse’s income fluctuates, i.e. a salesman with a base salary plus commission, you will often hear that a “true-up” is necessary at the end of each quarter or year. If there has been an over or underpayment, you “true-up” at that time. As part of the process, all income information is exchanged, and the accurate child support (or maintenance) sum is determined. Documents involved usually include W-2s, 1099s, K-1s, tax returns, and bank statements; both personal and business records.
Contact Our Schaumburg IL Family Law Firm
Do you have more questions on child support in Cook County? Please contact the family law firm of Robert M. Kaplan for a consultation.