Sentences with phrase «tiebreaker rules»
"Tiebreaker rules" are a set of guidelines or procedures used to break a tie or determine a winner when two or more participants have the same score or result in a competition or event. Full definition
For situations where the same child may be eligible to be claimed as a dependent or qualifying child by more than one person, the IRS has established a set of tiebreaker rules to determine who has the right to claim the tax benefits.
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What are the official tiebreaker rules in that instance?
In this case — or if it's really close and the two of you can't decide which parent your child stayed with more — the IRS uses what it calls «tiebreaker rules for claiming dependents» for sorting things out and deciding which parent is eligible to claim the child as a dependent.
If two or more taxpayers claim the same person as a dependent, the IRS will apply a set of tiebreaker rules to determine who has the legitimate claim.
In determining a taxpayer's eligibility to claim a dependency exemption, these proposed regulations change the IRS's position regarding the adjusted gross income of a taxpayer filing a joint return for purposes of the tiebreaker rules and the source of support of certain payments that originated as governmental payments.
If you file your tax return and someone else has already claimed your dependent, then the IRS will apply the tiebreaker rules.
If a child is claimed as a dependent on more than one tax return, the IRS will determine who gets the claim according to a set of tiebreaker rules.
If you can not claim a child due to the tiebreaker rules, you can use another child to claim the EITC, but you can not use the rules for taxpayers without a qualifying child to claim the credit.
If a dependent is claimed on more than one tax return (for example, a child is claimed by both divorced parents) the IRS will apply a set of tiebreaker rules to see who gets to claim the dependent.
In determining a taxpayer's eligibility to claim a dependency exemption, these proposed regulations change the IRS's position regarding the adjusted gross income of a taxpayer filing a joint return for purposes of the tiebreaker rules and the source of support of certain payments that originated as governmental payments.
If a child is treated as the qualifying child of the noncustodial parent under the rules for Children of divorced or separated parents (or parents who live apart), earlier, see Applying the tiebreaker rules to divorced or separated parents (or parents who live apart), later.
If the child is the qualifying child of more than one person for those tax benefits, the tiebreaker rules determine which person can treat the child as a qualifying child.
For details and examples, see Applying the tiebreaker rules to divorced or separated parents (or parents who live apart) in chapter 3.
See Applying the tiebreaker rules to divorced or separated parents (or parents who live apart), later.
If a child is treated as the qualifying child of the noncustodial parent under the rules for children of divorced or separated parents (or parents who live apart) described earlier, see Applying the tiebreaker rules to divorced or separated parents (or parents who live apart), later.
If the child is the qualifying child of more than one person for these benefits, then the tiebreaker rules just explained determine whether the custodial parent or another eligible person can treat the child as a qualifying child.