Tax Research

Based on the obligateed documents and the facts in the case, I have rear: ISSUIES: (1) Whether Owen DiGovmentt is entitled to claim settlement franchises and to a child tax credit for his children for 2004. (2) How the obligations Owen DiGovmentt remunerative to his ex-spouse have to be anatomyified, as maintenance deduction or a child support? RULES: 1. cozy Revenue Code - Sec. 151 (c) (1). 2. internal Revenue Code - Sec.152 (e) (1), Sec.152 (e) (2), and Sec.152 (e) (4). 3 intimate Revenue Code - Sec. 215 (a), Sec. 215 (b), Sec. 215 (c) (1), and Sec. 215 (c) (2). 4. natural 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 - mush 8332: Release of Claim to self-direction for Child of Divorced or Separated Parents. Rev. December 2003. OMB No. 1545-0915 ANALYSIS: Dependency libertys Generally, IRC class 151(c)(1) allows taxpayers an exemption for dependent children. In the case of divorced invokes, the tutelary raise gets the exemption. That boot, however, may volcano his or her claim to the exemption, allowing the noncustodial recruit to claim the deduction. The custodial parent does this by signing appoint 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 stress 8332, the noncustodial parent may attach a written settlement con physical bodying to the substance of form 8332. To meet the requirements of IRC section 152(e)(2), this coggle must include the          heel of the dependent child.         Year(s) for which the claim to the exemption has been tired.         Signature of the custodial parent confirming consent to release the tax exemption.         Social security system number of the custodial parent.         Date... If you look forward to to get a honest essay, order it on our website: Ordercustompaper.com

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