IRS Notice: Guidance on Qualifying Relative Determination, Exemption Amount (IRC §152)

IRS intends to issue proposed regulations that would provide that the reduction of the exemption amount to zero under tax code Section 151(d)(5)(A) for taxable years 2018-2025 will not be taken into account in determining whether a person is a qualifying relative under Section 152(d)(1)(B), the IRS provided. Accordingly, in defining a qualifying relative for purposes of various provisions of the Code that refer to the definition of dependent in Section 152, including, without limitation, for purposes of the new credit under Section 24(h)(4) and head of household filing status under Section 2(b) ...