How can a divorced parent in Brooklyn claim their child on their taxes?

Brooklyn, NY – Handling tax issues is something that most people try not to think about until they have to file each year. However, for people who have been through a divorce in the prior year, there are a number of serious matters that need to be addressed. Most notably, a parent who is taking care of one or more children during the year can see large changes in taxes depending on whether their children can be claimed or not. 

Yahoo Finance reported on potential issues for those who have children when they are filing taxes for the first time after their divorce [1].

Tax issues and child custody

Figuring out what to do with taxes following a divorce is often one of the most confusing things for newly unmarried individuals. Some people will be uncertain regarding how to proceed after spending years or decades filing jointly as a married couple. One of the most commonly disputed issues for taxes for divorced people is who can claim a child as a dependent.  

In all cases, only one parent should be trying to claim the child as a dependent. This may be a simple decision if sole custody has been awarded or a judge has specifically told one parent that they are able to claim the child. However, there are also situations where joint custody is awarded where both parents are investing time and money into the child’s upbringing. 

The parent with more custody time should generally be the one to claim the child as a dependent. This is called the custodial parent in family court settings. However, there are also situations in which a child has essentially an even amount of time with both parents. In these cases, the tiebreaker tends to be which parent has higher income, as they can claim the child. Custodial parents are able to receive all of the tax benefits associated with claiming children on their federal return, including various credits or qualifying for a lower tax bracket. 

The situation is made more complex by the fact that the right to claim the dependent child is transferable. This means that an IRS form to transfer this right to claim can be completed and filed provided that certain conditions are met. 

Divorce lawyers in Brooklyn New York

Elliot Green Law Offices is a firm that works with people who need to get divorced, prepare for custody hearings, or get help with other family court issues. Their attorneys can provide additional advice during a meeting. 

USAttorneys.com is a service that helps people get in touch with the right lawyers in their city or state. Anyone who needs a referral can call 800-672-3103 to get connected with an attorney who can solve their problems. 

Firm contact info:

Elliot Green Law Offices

32 Court Street, Suite 404, Brooklyn, NY, 11201

718-260-8668

www.elliotgreenlaw.com

Sources:

1. https://finance.yahoo.com/news/now-divorced-claims-child-taxes-130041616.html?fr=sycsrp_catchall