Facts About Claiming Dependents


         In this Tax Season, there have been many adjustments from previous years. One of which is related to the claiming of dependents. It came as a surprise to some that the tax filer, spouse, or dependents can no longer be claimed as personal exemptions. This has been suspended. However, dependents can still be claimed if they meet qualifying criteria.

          For any dependent claimed, their name and Social Security number must be listed in the Tax Return. The Internal Revenue Service (IRS) is taking these steps to combat fraud. In recent years, the Child Tax Credit has been a target of criminals. A Taxpayer cannot claim any dependents, if they themselves, or even their spouse, have been claimed as a dependent. Making sure that a child or relative still qualify to be claimed as a dependent is not the same as it was a year ago. Talk to your Qualified Tax Professional to understand the nuances of this change in Tax Law.

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