This article will discuss the requirements to claim a child as a dependent and the requirements for a non-custodial parent to claim an exemption. It also discusses the ”tie breaker” rule, voluntary release of the exemption by the custodial parent to the non-custodial parent, and a recent Tax Court decision that dealt with this issue.
Tag Archive for Scholarships
My husband and I chartered a course ourselves long ago in the stormy waters of visas, tax treaties and tax consequences. Considering taxes have just got even more complicated, so its no surprise that I field quite a lot of questions from various visa holders especially foreign students on F-1 visas. Suffice to say that the range of information for foreign students is too much to cover in one blog post, so I will focus on the main points. If you need any more information, you know where to reach me!
If you are a foreign student, you already know from your university that you are one of those who are subject to special rules with respect to the taxation of your income. Usually a foreign student is on an F, J, M, or Q visa. Read more
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- Federal Payment Levy Program: Harming Veterans (Part II)By Nina OlsonIn my previous blog, I described the Federal Payment Levy Program (FPLP) and outlined my general concerns about the IRS’s implementation of the “Low Income Filter” (LIF) and lack of person-to-person […]
- Another Large Payment Owed For Incorrect PTCBy Annette NellenAnother case (see below)* addresses a couple receiving an advance Premium Tax Credit (PTC) of a large amount and having to pay it all back. They also note that if they had known they would have to […]
- Tax Incentives And Credits In MaineBy Monika MilesThis month we travel all the way to the northeast corner of the country to the state with the rocky coastline and maritime history of Maine, the Pine Tree State. Maine is the northeasternmost state […]
- IRS Has A Heart For Hurricane Harvey VictimsBy Barry FowlerWith a major portion of Houston and surrounding areas under water and devastated, the Internal Revenue Service (IRS) has announced significant tax relief for victims of Hurricane Harvey. Those in […]
- IRS Taxes For U.S. Inpats – What You Need To KnowBy Hugo LesserInpats, or inpatriates, are foreigners who have been transferred to work in the United States. So in a sense, inpats are also (from the perspective of their country of origin) expats. As individuals […]
- Federal Payment Levy Program: Harming Veterans (Part II)