Qualifying Child:A qualifying child must meet certain criteria set by the IRS in order to be claimed as a dependent. These criteria include relationship, age, residency, support, and dependency. For example, a qualifying child must be your child, stepchild, foster child, sibling, or a descenda...
Payments made forchild support are not taxableto the recipient nor deductible by the payer. This guarantees that the funds go directly to the child’s needs without tax complications. Recipients should maintain accurate records and documentation of all child support payments. While these payments don...