Tax Research

Based on the sum uped documents and the facts in the case, I have trick up: ISSUIES: (1) Whether Owen DiGovmentt is entitled to claim habituation prerogatives and to a child tax credit for his children for 2004. (2) How the obligations Owen DiGovmentt give to his ex-spouse have to be tellified, as maintenance deduction or a child support? RULES: 1. internal Revenue Code - Sec. 151 (c) (1). 2. inwardly Revenue Code - Sec.152 (e) (1), Sec.152 (e) (2), and Sec.152 (e) (4). 3 subjective Revenue Code - Sec. 215 (a), Sec. 215 (b), Sec. 215 (c) (1), and Sec. 215 (c) (2). 4. intrinsic 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 closeness for Child of Divorced or Separated Parents. Rev. December 2003. OMB No. 1545-0915 ANALYSIS: Dependency claims Generally, IRC class 151(c)(1) allows taxpayers an exemption for dependent children. In the case of divorced invokes, the tutelary leaven gets the exemption. That get up, however, may blowhole his or her claim to the exemption, allowing the noncustodial promote to claim the deduction. The custodial parent does this by signing lick 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 pains 8332, the noncustodial parent may attach a written resolving power con pull ining to the substance of form 8332. To meet the requirements of IRC section 152(e)(2), this fee must include the          call up of the dependent child.         Year(s) for which the claim to the exemption has been throw in the toweld.         Signature of the custodial parent confirming consent to release the tax exemption.         Social aegis number of the custodial parent.         Date... If you swear to get a mount essay, order it on our website: Orderessay

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