Child Support Archives - Page 2 of 3 - FREE Yourself from IRS Problems

Shamsey Oloko August 30, 2016 Child Support, Child Tax Credit, Form 8332 0

The Importance Of Form 8332

Divorced taxpayers with children that fail to include an executed Form 8332 with their tax return will lose the exemption for that particular tax year. Form 8332 (Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent) allows…

Shamsey Oloko March 28, 2016 Child and Dependent Care Credit, Child Support, Child Tax Credit, Filing Status, Income Tax, Representation, Tax Credit 0

Child and Dependent Care Credit Explained (26 U.S.C. §21)

Federal courts have long held that expenses incurred by taxpayers for the care of dependents, such as a daycare or babysitting expense, while the taxpayer is away from home and at work, are not deductible under I.R.C. § 162(a). However,…

Shamsey Oloko March 22, 2016 Capital Gains, Child and Dependent Care Credit, Child and Dependent Care Creidt, Child Support, Child Tax Credit, Deductions, Education 529 Plans, Education Tax Credit, Filing Status, Income Tax, Representation, Tax Credit 0

Who Claims The Kids On Their Taxes, And Other Ways Divorce May Affect Your Taxes

Divorcing couples often wonder who claims the children on their taxes, and in what other ways divorce will affect their taxes. Questions may include which filing status to use after the divorce, and how payments for spousal maintenance and child…