During tax time the phones ring every day with parents asking about how to handle the tax benefits available to them for claiming their children. It is not very simple, unless you have already worked your way through this issue in your court papers.
In Oklahoma, each parent should look to the terms of their final child custody and support order. This will generally be in the divorce decree or paternity order. Oklahoma law in general allows the district courts to award the right to claim children on federal and state tax filings. Therefore, when in conflict, it is necessary to submit this issue for decision by the judge. The judge has wide discretion in such matters, and will generally order the parents to alternate the child tax credit and deduction dependent on the timely payment of child support by December 31st of the relevant tax year.
The IRS has its own rules for the right to claim the children. Therefore, if the court order is silent, one is generally stuck with the IRS rules.
No matter what the court order says, the IRS has its own requirements for claiming the children on one’s tax filings. The trend this year is that the IRS is being extra picky about using IRS Form 8332. This is the form that releases the right to claim the child tax exemption to the noncustodial parent. Parents need to carefully review their custody and support orders as well as make sure they have obtained the necessary IRS forms before they finalize their 2009 income tax filings.
Child Tax Exemptions
During tax time the phones ring every day with parents asking about how to handle the tax benefits available to them for claiming their children. It is not very simple, unless you have already worked your way through this issue in your court papers.
In Oklahoma, each parent should look to the terms of their final child custody and support order. This will generally be in the divorce decree or paternity order. Oklahoma law in general allows the district courts to award the right to claim children on federal and state tax filings. Therefore, when in conflict, it is necessary to submit this issue for decision by the judge. The judge has wide discretion in such matters, and will generally order the parents to alternate the child tax credit and deduction dependent on the timely payment of child support by December 31st of the relevant tax year.
The IRS has its own rules for the right to claim the children. Therefore, if the court order is silent, one is generally stuck with the IRS rules.
No matter what the court order says, the IRS has its own requirements for claiming the children on one’s tax filings. The trend this year is that the IRS is being extra picky about using IRS Form 8332. This is the form that releases the right to claim the child tax exemption to the noncustodial parent. Parents need to carefully review their custody and support orders as well as make sure they have obtained the necessary IRS forms before they finalize their 2009 income tax filings.