Frequently Asked Questions
Who can I claim as a dependent?
The short answer: You can claim a “qualifying child” or “qualifying relative” if they meet specific requirements related to residence, relationship to you, age, financial support provided and income. And yes, you may be able to claim a girlfriend, boyfriend, domestic partner or friend as a qualifying relative in some cases. Claiming dependents can give you a tax deduction worth up to $4,050 per dependent and also make you eligible for many other tax deductions like the Earned Income Tax Credit.
Will filing the 2018 Form 1040 be different?
The 2018 Form 1040 has been redesigned. Some lines have been combined or shifted to other forms and schedules. Some items that remain basically unchanged are: the spaces for names and Social Security numbers, the spaces for signatures remain on page one, the check boxes for selecting the Filing Status and the check boxes for the Presidential election campaign.
The checkbox for reporting full year health care coverage or exemption is on page one of the 2018 Form 1040.
Can I get an extension?
Yes, the IRS lets everyone apply for an automatic six-month filing extension, but read the fine print. An extension gives you six more months to prepare and file your tax return, but it does not excuse you from paying your taxes on time. When you file for the extension, you are asked to pay an estimation of your outstanding tax bill. If you don't cover at least 90 percent of your taxes due by April 15, the failure-to-pay penalty still applies.