While each individual tax return is unique, there are some tax rules that affect every person who files a federal income tax return. These rules involve dependents and exemptions. The IRS has six important facts about dependents and exemptions that will help you file your 2012 tax return.
Remember that a person must meet several tests in order for you to claim them as your dependent. See Publication 501 for the tests you will use to determine if you can claim a person as your dependent.
You can view or download Publication 501 at IRS.gov or order it by calling 800-TAX-FORM (800-829-3676). You can also use the Interactive Tax Assistant at IRS.gov to find out if a person qualifies as your dependent. The ITA is a helpful tool that can answer many of your tax law questions.
TaxACT's Dependents Tax Assistant in Free Federal and Deluxe Editions helps determine whether someone can be claimed as a dependent and walks you through all tax breaks for dependents. Start your TaxACT return to get started.
Additional IRS Resources:
December 10 (Employees who work for tips)
If you received $20 or more in tips during November, report them to your employer - Details
December 16 (Corporations)
Deposit the fourth installment of estimated income tax for 2013 - Details
December 25 (Everyone)
Federal Holiday (Christmas Day) - Details