The U.S. Treasury Department and IRS have released a notice of proposed rulemaking (REG-118997-19) that is intended to clarify the definition of a “qualifying relative” for purposes of various Code provisions for tax years 2018 through 2025.
With the release, part of the regulations proposed in January 2017, that address the support test for a qualifying relative, are withdrawn and replacement language is proposed.
See full proposed regulations by clicking here.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..