Kids and Taxes: Who Gets To File Whom On Their State and Federal Taxes?

In today’s day and age, money is counted for cent by cent by almost everyone. People are beginning to cut back from small expenses to even large luxury items, or traveling. So after the bills are all said and done for, everyone gets to relax for a period of time. However, tax season can always be seen looming across the horizon. When a couple divorces many of their assets and finances are split entirely. When separated ex-spouses file their taxes the question that both are wondering is who puts the kids on their state and federal taxes?

When dealing with income tax dependency, there are many options that children can be situated into a person’s taxes. With any agreement, any method is sure to work, however some are not supported completely by how the law would see it fit for you to file your hard earned tax dollars. Many people completely split the deductions in half and pay for all the children, even sometimes meaning that the parent paying child support picks up a little more than the other.

If an agreement cannot be made, the court will decide who will be filing for whom under their taxes every year until the children are at the legal age of 21 to support themselves. However, many parents do not do this aspect of financial aid when seeking tax support. When the court is necessary, the IRS can override any state divorce law since it is a federal government entity.

In the event that the court does decide who pays for what the parent that holds custody of the child, or children, will file them under their taxes every year unless an agreement is made later on by the parents outside of the court of law.

One thing that both parents can agree on is money. Money today is something that has to be evaluated on a need basis, and taxes need to be paid, as well as children taken care of. If both go undone properly, the law can easily step in and switch custody between parents or take the children out of the guardianship of both parents entirely.

When dealing with your divorce you need someone you can count on, a lawyer and a friend. Call McDowell today at 316-269-0746 to get you closer to the peace of mind you need, and deserve. When relying on McDowell Chartered you can count on determination, and commitment with you and your case.