Caring for a parent or other relative takes both time and money. There are several tax provisions that can help you save money when providing this type of care. If you are supporting an elderly parent or other qualifying person, you may be able to claim him or her on your tax return as a dependent. Claiming an additional dependent on your 2010 tax return could reduce your income by $3,650.
provides interim guidance under Section 152(c)(4), the rule for determining which taxpayer may claim a qualifying child when 2 or more taxpayers claim the same child. It clarifies that, unless the special rule in Section 152(e) applies, the tie-breaking rule in Section 152(c)(4) applies to the head of household filing status, the child and dependent care credit, the child tax credit, the earned income credit, the exclusion for dependent care assistance, and the dependency deduction as a group, rather than on a section-by-section basis.
WASHINGTON, Dec. 20 /U.S. Newswire/ -- On the December 13 Webcast of Tax Talk Today, a panel of IRS officials and tax professionals covered the tax law changes and other issues that will impact the 2005 federal returns of most individual taxpayers. This month's panel focused on the new definition of a qualifying child as the change that will have the biggest effect on individual returns in the coming filing season. Changes to the definition of a qualifying child can affect five different tax benefits, including head of household filing status, dependency exemptions, the child tax credit, the child and dependent care credit and the earned income credit. Tax practitioners should assist their clients in examining each benefit to identify unique differences and requirements affected by the...
...; (3) whether petitioner is entitled to head of household filing status and a dependency exempt...
The Franchise Tax Board is preparing to mail more than 150,000 audit letters to individuals who filed their 2004 tax returns using the Head of Household filing status, according to the Franchise Tax Board (FTB). The advantage to filing as Head of Household is it has lower tax rates and a higher standard deduction than the single filing status. It is intended to help unmarried people who provide a home for a qualifying person, typically their child.
Sacramento. The Franchise Tax Board is sending more than 140,000 audit letters to individuals who used the "Head of Household" filing status on their 2008 state tax returns. Filing status mistakes are some of the more common errors on tax returns. Last year more than 32,000 taxpayers who filed under the status were ultimately issued more than $28 million in tax assessments.
WASHINGTON, D.C. - The Justice Department announced today that it has asked an Illinois federal court to bar Guadalupe Valdez, of Rockford, Illinois, from preparing federal income tax returns for others. The complaint, filed last week in the U.S. District Court for the Northern District of Illinois in Rockford, alleges that Valdez prepared and filed for customers amended federal income tax returns fraudulently claiming refunds based on their status as Bosnian immigrants. Valdez also allegedly prepares returns claiming false head-of-household filing status and false dependent exemptions. The government also seeks a court order requiring Valdez to provide the government his customers' names, mailing and e-mail addresses, and telephone and Social Security numbers.
WASHINGTON, March 8 /U.S. Newswire/ -- The Justice Department announced today that a federal court in Minneapolis has permanently barred John R. Bartels, who operates John's Tax Service in St. Paul, from preparing federal income tax returns for others. The permanent injunction, to which Bartels consented, was entered by Judge Ann D. Montgomery of the U.S. District Court for the District of Minnesota. The government complaint in the case, filed last month, alleged that Bartels prepared federal income tax returns claiming false deductions and improper filing statuses, such as claiming head- of- household tax filing status for married customers. That filing status is available only to certain unmarried taxpayers who maintain a home for a dependent. More detailed information about head-o...
... to verify their Head of Household filing status on their 2010 state tax return. If your cli...
WASHINGTON, Jan. 18 /U.S. Newswire/ -- The Justice Department announced today that a federal court has permanently barred Guadalupe Valdez, of Rockford, Ill., from preparing federal income tax returns for others. The permanent injunction, to which Valdez consented, was entered by Judge Philip G. Reinhard of the U.S. District Court for the Northern District of Illinois. According to the government's court filings in the case, Valdez prepared approximately 159 amended federal income tax returns, claiming refunds for customers based on Bosnian refugee status. Federal tax law does not allow any exemption from income tax for refugees. The complaint also alleged that Valdez underreported customers' taxes by claiming false head-of- household filing status and false dependent exemptions. Th...
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