Handling Dependency Exemptions with Your Divorce Case
Our clients often as us how Dependency Exemptions are handled in a Divorce case. First and foremost, we refer to the federal law, which is the tax code. Under the tax code, the parent who has custody has the right to claim the children as dependents. However, in many instances, the parent’s negotiate an outcome based upon available tax credits, a parent’s ability to earn a higher tax refund, and the consideration of how much Support is being paid. You need to discuss that issue with your Attorney because it is not an issue that we like to leave open when we are negotiating an agreement. This is an issue that has some significant impact to the party’s finances each year.
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This informational blog post was provided by Jean Mahserjian, an experienced New York Spousal Support Lawyer.