1 / 1

What is the IRS Dependent Exemption

The IRS dependent exemption is aimed at taxpayers who need to pay for dependents. Read more, https://nationaltaxreports.com/what-is-the-irs-dependent-exemption/ Most commonly, parents would apply for this because they have children. However, it also applies to other dependents.

ameliaeniten
Download Presentation

What is the IRS Dependent Exemption

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. WHAT IS THE IRS DEPENDENT EXEMPTION? The IRS dependent exemption is aimed at taxpayers who need to pay for dependents. Most commonly, parents would apply for this because they have children. However, it also applies to other dependents. Dependent Exemption Qualification Rules Understanding the dependency exemption rules is extremely difficult. However, there are some tests you can perform to understand whether someone is entitled to an exemption. Let’s look at the dependent exemption qualification tests. How Much is the Dependent Exemption Amount? The old dependency exemption used to be worth about $4,000 for each qualifying child. However, changes to the law means that these have been eliminated. In exchange, the standard deduction has been doubled at all levels. www.nationaltaxreports.com/what-is-the-irs-dependent-exemption

More Related