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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- Webinar – U.S. Controlled Foreign Corporations Statute – May 30thBy Hale StewartThe controlled foreign corporation statute is a bedrock legal concept of U.S. international taxation. Enacted in the early 1960s, it is one of the most complex statutes in the U.S. tax code. “An […]
- Tax Job – Tax Manager/ Partnerships – Pleasanton, CABy Kat JenningsKat Jennings, TaxConnections CEO and internationally recognized tax search consultant, has worked with many firms over the years. One of her clients is an East Bay Area boutique tax […]
- Part 2: OECD CRS: Tax Residence And The Tax Treaty TiebreakerBy John RichardsonThis is Part 2 – a continuation of the post about “tax residency under the Common Reporting Standard.” That post ended with: Breaking tax residency to Canada can be difficult and does NOT […]
- Big Businesses Lobby For 3.5% Offshore Repatriation TaxBy Ronald MariniAccording to various news reports, U.S. multinationals are “pushing” the U.S. government to further reduce the tax rate on offshore profits. Major U.S. multinationals are pushing the […]
- Arizona’s Approach To Online Sales TaxBy Monika MilesHave you been following our series on how states are approaching the online sales tax debate? So far we’ve taken a look at Colorado, Alabama, Washington and Texas; today we look at Arizona! Keep […]
- Webinar – U.S. Controlled Foreign Corporations Statute – May 30th