ninasgramma
|
An exemption for a person may be claimed by only one person. If you support yourself, you can claim yourself and no one else can claim you.
If you do not support yourself, and are under age 19 or under age 24 and a full-time student, then you cannot claim yourself.
What will happen is that if you both file electronically, the second return filed will be rejected and not processed by the IRS. In order to have the IRS review the two claims, at least one of the returns will have to be mailed in. Then the IRS will make a determination as to who is allowed the exemption. If a refund was given in error, it will have to be paid back. |
|
Judy1
|
The IRS will absolutely catch it. They'll send each of you a letter asking you to justify your claim or file an amendment dropping the claim. If nobody drops the claim, then they'll make the decision and disallow one of you - that person will get a bill then to pay back whatever they saved because of the claim, plus penalties and interest. |
|
SO OVER IT!
 |
They send you a letter saying that someone else has claimed you also and one you has to go fix it a pay back the difference. |
|
acmeraven
|
You will both get a notice and a form 1040X from the IRS. One of you is going to have to fill out the 1040X and release the dependency as only one can be claimed. If you don't do it voluntarily the IRS will do it for you based on the law. |
|
v b
|
If you are under 19 (or under 24 and a full time student), you will both get letters stating that one of you made an error, to figure out who *should* have claimed the exemption and that the one who wasn't entitled to it needs to amend their tax return.
If you made the error, often you owe between $340 and and $510 in income tax, unless you also took deductions you weren't entitled to.
If your mom made the error, she may pay back more than that.
(If you are a student, you may find that FASFA won't process your application until the returns are fixed.) |
|
wartz
 |
The second one in will bounce and IRS will have to sort it out |
|
short cake
|
One of you will charged for back taxes, and possibly a hefty fine. That is illegal. |
|
Red
|
Well, the IRS would probably not catch it, but if they do you would most likely both go in for an audit, and whoever was lying would be penalized. |
|
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
