Claiming dependents correctly could help reduce your tax bill. A family with two qualifying children may potentially receive ...

Editor’s Note: The personal and dependency exemptions, along with the phaseout rules discussed below have been eliminated.The materials discussed below generally apply for tax years beginning before ...

The 'One Big Beautiful Bill' (OBBB) has brought significant changes to the U.S. tax landscape. Among these, the elimination of the personal and dependency exemption stands out as a major shift.

As the April 18, 2023 tax return filing deadline nears, many Americans are trying to get their tax situation in order. Given that many people will have more tax liability this filing season, such as ...

Editor’s Note: The personal exemption and dependency exemption were suspended for 2018-2025 by the 2017 TCJA and eliminated by the 2025 OBBB. However, the rules discussed below continue to be relevant ...

n King , 121 TC 245 (2003), the Tax Court held that the IRC section 152(e) support test applies even if the parents were never married to one another (for background see “ Who Gets the Exemption? ” ...

In this episode of Tax Notes Talk, Sarah Lora of Lewis & Clark Law School discusses the personal exemption after the Tax Cuts and Jobs Act and the implications for immigrant families with nonresident ...