View Claiming a child on your taxes

February 7, 2015

Sometimes the matter of being able to claim a child for tax purposes is a hotly debated item in a divorce or other custody case. It is an issue that can have major financial implications, so consider it carefully. Under IRS regulations, the parent who has the child more than half of the year will be the one to claim the child for tax purposes. This person is considered to be the custodial parent. However, the right to claim a child for tax purposes can be allocated to the non-custodial parent (i.e. the parent having the child less than half of the year). If this is the case, then make sure your Parenting Plan directs the custodial parent to sign IRS Form 8332 by a specific date each year. This form is what allows a non-custodial parent to be able to claim the exemption.

For more information on this topic, please consult a qualified attorney or accountant.

Prepared by Ann R. Littell Mills, Attorney
ann@courtneyandmills.com

Please reload

Featured Posts

OVERVIEW OF DIVORCE IN MISSOURI- PART 1
So you want to learn more about the divorce process in Missouri? This publication can help. The purpose of thi...

Divorce Overview - Part 1

January 21, 2014

1/2
Please reload

Recent Posts

January 23, 2016

December 16, 2014

Please reload

Archive
Please reload

Search By Tags
Please reload

Courtney & Mills, LLC

725 West Battlefield Rd. 
Suite A
Springfield, MO 65807
Local: 417.869.9888
Fax: 417.869.9891
Toll Free: 888-844-7518

Affiliations

Attorney Advertising

This web site is designed for general information only. The information presented on this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

FOLLOW US:

  • w-facebook

© 2015 Courtney & Mills, LLC