Did the IRS reject your tax return because someone else claimed your dependent? Claiming a dependent is usually pretty simple: you give the IRS their social security number, certifying that your relationship with that person…
Most of the time, children are considered to be an extension of their parents when it comes to a legal application until the age of majority. Therefore, many taxpayers are surprised to learn their child…
If you are a divorced or separated parent with children, a commonly encountered but often misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between…
Everybody loves tax exemptions. They reduce the amount of your taxable income, which affects the amount of taxes you pay. You can take a personal exemption for yourself, and you get an exemption for each…
The IRS is proposing to change its position on when taxpayers may qualify as childless for purposes of the Sec. 32 earned income tax credit (REG-137604-07). The proposed regulations, issued on Thursday, would also make…