Everybody who has a child claims a dependent, so why not give tax credit to the person that is paying child support, it would be fair to give credit for it.
People should get tax credit for paying child support? dont you think ?
Because why should you get to get money back or a reduction in your tax liability for providing a monthly check for contributing to the support your child. What you provide in child support only puts a small dent into the cost of housing, clothing,educating, providing medical care, transportation, food, and the other many need of YOUR child.
You do not provide enough in support with a monthly check to qualify to claim the child as a dependant or for any of the credits or deductions.
This goes for whether its the Mother or the Father paying child support.
People should get tax credit for paying child support? dont you think ?
I think that is a good idea.
People should get tax credit for paying child support? dont you think ?
sure do but good luck
People should get tax credit for paying child support? dont you think ?
The custodidal parent can allow the one paying child support to claim the exemption of their return. You can also get it written in the divorce decree that the one paying child support can claim them every year/every other year or some other method agreed upon by the parents of the child. A child can only be claimed on one return, and the best you get is the exemption and child tax credit. EIC goes to who the child lived with. Don%26#039;t try to claim it if the child didn%26#039;t live with you. You can get slapped with a huge penalty and have to get a professional to prepare your taxes for 10 years.
Best to get this done at the divorce/custodial hearing. If you didn%26#039;t ask for it, you had a lousy lawyer. Try to renegatiate, especially if the tax benefits are not being used (ie, your ex doesn%26#039;t work and has not gotten remarried). Also, of she/he has not legally(or commen law) married, the new partner cannot claim the children on their return anymore (as of 2005 tax year).
People should get tax credit for paying child support? dont you think ?
A support agreement can include a provision that the payor gets the dependency exemption for the child(ren). You would then also be entitled to the child tax credit for those under 17. If the agreement is silent or assigns the exemption to the custodial parent, there is a form to be used to release the exemption to the payor.
Procedures will vary state to state, so you should check with the appropriate agency and/or engage an attorney.
People should get tax credit for paying child support? dont you think ?
i do not think we should have to pay income tax ,, period
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