We here at Joe H Dike CPA.CITP.CSA feel that an informed client is our best customer. We know that there is a lot of information on the Internet and it can be tough to determine what is valuable. That is why we have selected the following article(s) for you to view. Important News: Tie-breaking Rule for Claiming Children: The IRS issued interim guidance under IRC Sec. 152(c)(4) for determining who can claim a qualifying child when two or more taxpayers want to do so. Unless the special rule of IRC Sec. 152(e) applies, the Section 152(c)(4) tie-breaking rule applies to the following provisions as a group, rather than on a section-by-section basis: (1) head of household filing status, (2) the Section 21 child and dependent care credit, (3) the Section 24 child tax credit, (4) the Section 32 earned income credit, (5) the Section 129 dependent care assistance exclusion, and (6) the Section 151 dependency deduction. If IRC Sec. 152(e) applies, the child may be treated as the qualifying child of both parents, although a noncustodial parent can claim the child as a qualifying child under IRC Sec. 152(e) only for purposes of the child tax credit and the dependency deduction. Notice 2006-86, 2006-41 IRB .

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