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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- Private Debt Collection: Hardship (Part 2 of 3)By Nina OlsonI have always had concerns about outsourcing tax debts to private collection agencies (PCAs). First, I believe tax collection is an “inherently governmental function” within the meaning of section […]
- Participating vs Non-Participating Shares – Canada Tax FAQsBy Grant GilmourWhy should I be concerned about participating and non-participating shares in my company? Shares in a corporation can be participating or non-participating, among other features. Participating shares […]
- Tax Burdens Prompt More Americans To Ditch CitizenshipBy FATCA TRACKERAmericans abroad have just about had it with Uncle Sam’s tax filing requirements. Those were the findings from a recent survey of more than 2,100 U.S. expatriates, according to Greenback Expat Tax […]
- FBAR Instructions For U.S. Expats Filing FinCEN Form 114By Hugo LesserAmericans living abroad are still required to file a U.S. tax return, and furthermore they may have to report their foreign bank and investment accounts by filing a Foreign Bank Account Report, or […]
- Practice Ignition Training Webinar – Thursday, July 26thBy AdvertorialJoin me as I introduce Ryan Embree from Practice Ignition who will walk you through step by step instructions on how to use this super easy template software. What Practice Ignition has done is take […]
- Private Debt Collection: Hardship (Part 2 of 3)