What would you like to do?
How many children can you claim on taxes?
The Bankruptcy Code does not specify a maximum number of times one can file bankruptcy, though Courts will scrutinize multiple filings and will deny a person the ability to re…-file a case if the Court believes the person's multiple filings constitute an abuse of the Bankruptcy Code.For example, if a person files multiple cases because they have a medical condition and can't get insurance and medical bills keep piling up, the Court may allow multiple filings. On the other hand, if one keeps voluntarily charging up credit cards and tries to come back to Court to discharge them, the Court may deny the filing.With respect to taxes, income taxes can normally be discharged in Chapter 7 bankruptcy as long as they are more than three years old and the returns were timely filed (see 11 U.S.C. 523(a)(1)). And, income taxes are a little easier to discharge in Chapter 13. Property taxes are dischargeable as long as you give up the property which secures the taxes; if you keep the property, you need to pay the taxes. Trust fund taxes (i.e. taxes which an employer is supposed to hold out of an employee's wages) are normally not dischargeable (by an employer who files bankruptcy) under any circumstances.Tax dischargeablity can be complicated, with exceptions to exceptions, so it is best to discuss it with an attorney.Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person. [This answer does not give a date of current status. Since the laws have changed, it's not showing the age of this information.]
You have custody of your children but your ex husband claims them on his tax return can you change this in court?
You do not have to surrender the taxes and you do not have to go to court. The new IRS law mandates that the custodial parent is the one who is awarded the tax return, regardl…ess. Unless you have a divorce degree that specifically states the exact dates for release of tax to the non-custodial parent AND it was signed before 1983 or 1984 (I can't remember the exact year) then no state court in the country with a decree can over ride it. YOU get the tax return. Someone somewhere saw the nonsense of the non-custodial parent taking money away from their children. I suggest you look up the IRS law on line and send it to your ex. Beware, however. In my case, my ex decided to take his greed out of the child support when he couldn't get the kid's tax returns. But that's easy to fix. Child recovery services has no tolerance for dead-beat dads. You never have to even contact him. Just go to your state child support services and they do all the research on his wages; what he owes, all back child support, even money he's made on the side such as bonuses, Christmas bonuses, and any rental properties, etc. They will take it right out of his tax returns and then write you a check. If he has no tax return coming, they will garnish his wages up front. From that point on, you receive a check from your child support recovery service, not your ex. They just take the money before he even sees it. So really, if he's not up on his child support, you may get all of the credit for your children, yourself, and even your ex's return.
There are two types of dependents you can claim on your tax return. 1) "Qualifying child" A qualifying child must be a) under 19 at the end of the year OR b) under 24 at e…nd of the year and a fulltime student OR c) any age and permanently and totally disabled. A qualifying child must not provide more than half of his/her own support, but there is no limit on how much they may earn. 2) "Qualifying relative" If a child cannot qualify as a qualifying child because of age, they can still be a qualifying relative. A qualifying relative can be any age, but there are some more severe restrictions. You must provide more than half of the relative's support and the relative's gross income must be less than $3500. Please refer to the chart at the top of page 11 of Publication 501 for a complete list of qualifications: http://www.irs.gov/pub/irs-pdf/p501.pdf
IRS Deduction Regardless of any custody agreement, or court order the IRS has it's own definition of who the custodial parent is. Section 152(e)(4) defines custodial parent …as the parent having custody for the greater portion of the calendar year and noncustodial parent as the parent who is not the custodial parent. If you feel that the mother may challenge this, or attempt to claim the child as well you can also double cover your back by having the Mom fill out form 8332, which basically says "I am the custodial parent of this child, and I am giving up my rights to claim the child this year. The IRS rule is that if you have the child for more than half of the year, and they literally mean 183 days, you are the custodial parent. Time spent in Day Care and/or School is deducted from the total.
You can claim on your tax return your baby from the time of birth. As long as your baby is born alive (and even if the baby only lives for a moment) you can still claim the …baby as a dependent. But you can't claim an exemption for a stillborn child.
Maybe. Read the "Qualifying Relative" section at the attached link to IRS Pub. 501 to determine whether your boyfriend can claim a dependency exemption for your children. … There are 4 tests, all of which must be passed for your children to qualify as your boyfriend's qualifying relatives: 1. Not a qualifying child: the children cannot be qualifying children of another taxpayer in order to be claimed as qualifying relatives of your boyfriend. Are you required to file an income tax return yourself? If so, your children are your qualifying children and cannot be your boyfriend's qualifying relatives. There are some exceptions, such as if you are only filing to obtain a refund of income taxes withheld and do not need the dependency exemptions for your children to obtain that refund. Read this section of Pub. 501 for exceptions and exceptions to the exceptions. If you determine the child is a qualifying child of another taxpayer, there is no need to proceed to the remaining tests because all 4 tests must be passed for your boyfriend to claim your children as his dependents on his income tax return. 2. Member of household or relationship test: the children are not your boyfriend's relatives (relationship test) so they must have lived in your boyfriend's household all year (member of household test) to pass this test; 3. Gross income test: your children cannot have earned more than $3,500 each during the year. 4. Support test: your boyfriend must have provided more than half of each child's support during the calendar year. The above is just a quick synopsis. Follow the attached link to the Qualifying Relative section of IRS Pub. 501 for more complete information and examples.
You can often times deduct the cost of hiring a tax professional to do your taxes in the following year. Given the generic nature of your question, I'd strongly suggest doing …just that.
It is not the custody agreement that determines who is qualified to claim the children as a qualified child dependents on a income tax return. Go to the IRS gov web site and u…se the search box for Publication 17 go to chapter 3 Qualifying Child Residency Test Rule 3 Children of divorced or separated parents or parents who live apart. In most cases, because of the residency test, a child of divorced or separated parents is the qualifying child of the custodial parent. However, the child will be treated as the qualifying child of the noncustodial parent if all four of the following statements are true. Custodial parent and noncustodial parent. The custodial parent is the parent with whom the child lived for the greater number of nights during the year. The other parent is the noncustodial parent. Equal number of nights. If the child lived with each parent for an equal number of nights during the year, the custodial parent is the parent with the higher adjusted gross income. You can click on the below related link for more information and examples.
Yes, you can claim state and local sales taxes on your return. But in order to do so you must itemize deductions and you must not claim state and local income taxes. You're al…lowed to claim either state and local income taxes or state and local sales taxes, but not both. If you do claim the sales tax deduction, you can either claim the amount you actually paid (based on receipts) or the amount given to you by the IRS's Sales Tax Deduction Calculator. For a more detailed explanation of the state and local sales tax deduction, please see Deducting State Sales Tax.
I assume that you mean how many exemptions you should claim when you fill out Form W-4 for your employer. Claiming zero (0) will result in the largest refund, but it also mean…s they will be taking more out of your check each payday (smaller paycheck, but bigger tax refund). ANSWER: Doesn't anybody ever wonder why it is that taxes you pay on income can lead to a refund at the end of the year? What other kind of tax operates in this fashion? If you are an employee and you believe your employer has the legal authority to withhold taxes on behalf why can't they just take out the exact amount you owe each week and leave it at that? Doesn't it strike anybody out there that this sort of scheme is like the shills who play three card Monte? Pay us some now and if you're lucky you'll get some or all of it back at the end of the year. Hell, if you know how to play the system it's actually possible to get back more than you paid in!! What a country!!!
Can your ex-wife and her new husband legally claim your children on their taxes if she does not have a taxable income but he does?
Yes, if the couple is responsible for more than half of the financial support pertaining to the child/children. If the support amount is equal, it would be advisable for the …parents to try to find an equitable solution w/o involving the court.
Yes, but that is not the end of the story. The divorce decree can specify who gets to claim the dependent exemption for the child for income tax purposes. However, t…here is a specific attachment the noncustodial parent must file with his or her tax return each year to claim the exemption. In general, the IRS allows the custodial parent to claim the dependency exemption. The custodial parent is the parent with whom the child lived for the greater part of the year. The other parent is the noncustodial parent. If the parents divorced or separated during the year and the child lived with both parents before the separation, the custodial parent is the one with whom the child lived for the greater part of the rest of the year. The rules as to when the noncustodial parent can claim the exemption changed effective for tax years beginning after July 2, 2008 (the 2009 calendar year for most taxpayers.) POST-2008 DECREE OR AGREEMENT For divorce decrees that went into effect after 2008, the custodial parent must sign Form 8332, Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent (or a similar form,) and give the signed form to the noncustodial parent to release the exemption. The noncustodial parent must attach that form to his or her tax return to claim the exemption that year. The noncustodial parent can no longer attach certain pages from a divorce decree or separation agreement instead of Form 8332 if the decree or agreement was executed after 2008. The custodial parent can specify on Form 8332 the release applies to only the current tax year or all future tax years. To help ensure future support, you may not want to release your claim to the exemption for the child for future years. POST-1984 / PRE-2009 DECREE OR AGREEMENT If the divorce decree or separation agreement went into effect after 1984 and before 2009, the noncustodial parent can still attach certain pages from the decree or agreement instead of Form 8332. However, the custodial parent who gave up the exemption via the divorce decree does not appear to be without recourse. See "To revoke a prior release of exemption" below. PRE-1985 DECREE OR AGREEMENT The rules are again slightly different if the divorce decree or separation agreement went into effect before 1985. See the instructions for Form 8332 if that applies to your situation. TO REVOKE A PRIOR RELEASE OF EXEMPTION Form 8332 can also be used to revoke a prior release of exemption. The revocation is effective no earlier than the tax year beginning in the calendar year following the calendar year in which the custodial parent provides, or makes reasonable efforts to provide, the noncustodial parent with written notice of the revocation. For example, if the custodial parent provides notice of revocation to the noncustodial parent in 2009, the earliest tax year the revocation can be effective is the tax year beginning in 2010. You can use Part III of Form 8332 for this purpose. You must attach a copy of the revocation to your return for each tax year you claim the child as a dependent as a result of the revocation. You must also keep for your records a copy of the revocation and evidence of delivery of the notice to the noncustodial parent, or of reasonable efforts to provide actual notice.
What if your children and you live with your parents who are on social security can they claim us and file taxes?
If they do NOT have any other worldwide gross income to be reported on their 1040 income tax return it would not do them any good to file a tax return just to claim you and yo…ur children on their income tax return. But if they are required to file a tax return and all of the rules all met by them, you and your children to be their qualifying dependents on their income tax return this is possible. You cannot claim a married person who files a joint return as a dependent unless the joint income tax return is only a claim for refund and there would be no tax liability for either spouse on separate returns. You cannot claim a person as a dependent unless that person is a U.S. citizen, U.S. resident alien, U.S. national, or a resident of Canada or Mexico You cannot claim a person as a dependent unless that person is your qualifying child or qualifying relative. Qualifying child · The child must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them. · The child must be (a) under age 19 at the end of the year and younger than you (or your spouse, if filing jointly), (b) under age 24 at the end of the year, a full-time student, and younger than you (or your spouse, if filing jointly), or (c) any age if permanently and totally disabled. · The child must have lived with you for more than half of the year.2 · The child must not have provided more than half of his or her own support for the year. · The child is not filing a joint return for the year (unless that return is filed only as a claim for refund). · If the child meets the rules to be a qualifying child of more than one person, you must be the person entitled to claim the child as a qualifying child. Qualifying relative dependent · The person cannot be your qualifying child or the qualifying child of any other taxpayer. · The person either (a) must be related to you in one of the ways listed under Relatives who do not have to live with you, or (b) must live with you all year as a member of your household2 (and your relationship must not violate local law). · The person's gross income for the year must be less than $3,650.3 · You must provide more than half of the person's total support for the year.4
No...each child must have a Social Security number listed on the tax return.
Property tax credit, or any type of tax return or credit, can typically only be claimed within the first three years of the relevant year. Unfortunately, there isn't any s…tatute of limitations the other way around, and property taxes can still be collected after many years.