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Posted by Alan on August 18, 2008, 7:35 pm
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Arthur Kamlet wrote:
>> The IRS has released RP 2008-48 that describes the circumstances
>> under which the Internal Revenue Service will treat a child of
>> parents who are divorced, separated, or living apart as the
>> dependent of both parents for purposes of §§ 105(b),
>> 106(a),132(h)(2)(B), 213(d)(5), 220(d)(2) and 223(d)(2) of the
>> Internal Revenue Code when the custodial parent has not released
>> the claim to the exemption for the child under § 152(e)(2).
>>
>> Sec. 105(b) relates to excluding from gross income employer
>> provided medical reimbursements.
>> Sec. 106(a) relates to excluding from gross income employer
>> provided health insurance.
>> Sec. 132(h)(2)(B) relates to excluding from gross income certain
>> employer fringe benefits.
>> Sec. 213(d)(5) relates to certain deductions for medical expenses.
>> Sec. 220(d)(2) & 223(d)(2) relates to excluding from gross income
>> distributions from MSAs & HSAs used for medical expenses.
>>
>> http://www.irs.gov/pub/irs-drop/rp-08-48.pdf
> [snip]
>
> And notice the IRS is in-your-face insisting a new divorce decree
> cannot be used to release the dependency exemption. Period.
This was written into the final regs published in July 2008 (see
below). IRC Sec. 152(e) gives the Secretary the authority to
specify the manner or form of the release.
(ii) Form designated by IRS. A written declaration may be made on
Form 8332, Release/Revocation of Release of Claim to Exemption
for Child by Custodial Parent, or successor form designated by
the IRS. A written declaration not on the form designated by the
IRS must conform to the substance of that form and must be a
document executed for the sole purpose of serving as a written
declaration under this section. A court order or decree or a
separation agreement may not serve as a written declaration.
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