IRS Tax Tips – Tax Benefits for Parents Plus Facts about Dependents and Exemptions


The IRS has published two bulletins which contain useful information that applies to many of my readers. I have summarized the key points below. Tax Benefits for Parents (IRS Tax Tip 2013-11) Dependents. In most cases, you can claim a child as a dependent even if your child was born anytime in 2012.   For more information, see […]

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2016 and 2017 Alternative Minimum Tax (AMT) Threshold and Exemption Amounts


Following enactment of the American Tax Relief Act (ATRA), the AMT patch legislation that Congress had to pass every year to ensure more people were not snagged by the Alternative Minimum tax is now no longer required. Instead the AMT exemption and associated thresholds based on filing status are now tied (or indexed) to inflation […]

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