What Happens When Two Taxpayers Claim the Same Dependent?

What happens when two taxpayers claim the same dependent, or, when a taxpayer claims a dependent and dependent also files claiming his or her own personal exemption?

Well, for one, the IRS will pay attention, and one or both of you will be audited. Read this article, Audits for Determining Who is Eligible to Claim a Dependent by William Perez to learn more.

Audits for Determining Who is Eligible to Claim a Dependent
William Perez for thebalance.com, December 22, 2014