Tax Research

Based on the weded documents and the facts in the case, I have frame: ISSUIES: (1) Whether Owen DiGovmentt is entitled to claim dependance immunitys and to a child tax credit for his children for 2004. (2) How the obligations Owen DiGovmentt salaried to his ex-spouse have to be mannequinified, as care deduction or a child support? RULES: 1. cozy Revenue Code - Sec. 151 (c) (1). 2. inwardly Revenue Code - Sec.152 (e) (1), Sec.152 (e) (2), and Sec.152 (e) (4). 3 indwelling Revenue Code - Sec. 215 (a), Sec. 215 (b), Sec. 215 (c) (1), and Sec. 215 (c) (2). 4. inborn Revenue Code - Sec. 71 (a), (b), (c), (d), (e), (f), and (g). 5. IRS - Publication 504: Divorced or Separated Individuals. Cat. No. 15006I. 2004 6. IRS - flesh 8332: Release of Claim to familiarity for Child of Divorced or Separated Parents. Rev. December 2003. OMB No. 1545-0915 ANALYSIS: Dependency privileges Generally, IRC class 151(c)(1) allows taxpayers an exemption for dependent children. In the case of divorced invokes, the tutelar fire gets the exemption. That promote, however, may blowhole his or her claim to the exemption, allowing the noncustodial upraise to claim the deduction. The custodial parent does this by signing prepare 8332, Release of Claim to Exemption for Child of Divorced or Separated Parents, which the noncustodial parent attaches to his or her tax return.

In lieu of strain 8332, the noncustodial parent may attach a written declaration con word forming to the substance of form 8332. To meet the requirements of IRC section 152(e)(2), this be given must include the          found of the dependent child.         Year(s) for which the claim to the exemption has been justifyd.         Signature of the custodial parent confirming consent to release the tax exemption.         Social protective cover number of the custodial parent.         Date... If you expect to get a lavish essay, order it on our website: Orderessay

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