Sentences with phrase «exemptions for income tax purposes»

U.S tax laws regulating which parent may claim a child as a dependent, and what happens if couples can't agree on who will claim the children as exemptions for income tax purposes.

Not exact matches

If you claim a dependent for tax purposes, the IRS allows a valuable exemption that allows you to subtract the exemption amount from your gross income.

You may have to pay the AMT if your taxable income for regular tax purposes, combined with certain adjustment and tax preference items (including interest on certain private activity bonds), is more than the following exemption amounts below:

Your family size in the context of income based repayment plan may not necessarily be the same with the number of exemption you file for tax purposes.

Using the IRS definition: You may have to pay the AMT if your taxable income for regular tax purposes plus any adjustments and preference items that apply to you are more than the AMT exemption amount.

For the purposes of qualifying for the Premium Tax Credit, it is your modified adjusted gross income (AGI) plus the AGI of every other individual in your family who can claim a personal exemption and is required to file a tax retuFor the purposes of qualifying for the Premium Tax Credit, it is your modified adjusted gross income (AGI) plus the AGI of every other individual in your family who can claim a personal exemption and is required to file a tax retufor the Premium Tax Credit, it is your modified adjusted gross income (AGI) plus the AGI of every other individual in your family who can claim a personal exemption and is required to file a tax retuTax Credit, it is your modified adjusted gross income (AGI) plus the AGI of every other individual in your family who can claim a personal exemption and is required to file a tax retutax return.

D.C. has a generous Homestead Exemption that, depending on your income, lets you deduct money from your property value for property tax assessment purposes.