Taxpayers who can claim dependents get income tax exemptions for them on their income tax returns, unless their incomes are in six-figure ranges and above. For those earning less, those income tax exemptions reduce the amount of taxable income and generally reduce the amount of taxes owed.
Who Gets Dependent Income Tax Exemptions?
Dependent status can apply to children, parents, other relatives and people unrelated to the taxpayer. To be a dependent by IRS definition, certain “tests” (requirements or criteria) have to be met.
Note: A spouse is never considered a dependent, but an exemption can be claimed for a spouse. Also, any spouse or dependent claimed as an exemption must have a Social Security Number or an ITIN (tax ID) to list on the IRS Tax Form 1040.
- California State Tax Refund Check
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- Maine Property Tax Refund
The 2010-2011 Maine Residents Property Tax & Rent Refund “Circuit Breaker” Program will be accepting applications through May 31, 2011.
- Illinois State Income Tax Refunds
- Track Your Federal Refund
