ARTICLE 3: NEW TAX LAW: IMPACT OF THE CHILD TAX CREDIT AND DEPENDENCY EXEMPTION UNDER THE NEW LAW Previously, in divorce proceedings, the question of which parent would claim the children for tax purposes had been a contested issue. The reason – the exemption was financially beneficial for the parent that received it. For example, the dependency exemption for a “qualifying child” in 2017 was $4,050, which equated to a significant exemption for the recipient. Typically, […]
Article 3: New Tax Law: Impact of the Child Tax Credit and Dependency Exemption Under the New Law
By Shannon Simpson Apr 2, 2019 Posted in Articles