IRS Form 8332

IRS Form 8332 is a document used by custodial parents to release their claim to certain child-related tax benefits, specifically exemption and credits, to the non-custodial parent. This form enables the non-custodial parent to claim the child as a dependent for tax purposes when the custodial parent agrees to relinquish that right. It is typically used in custodial arrangements where the custodial parent allows the non-custodial parent to benefit from certain tax advantages related to the child, as outlined in separation or divorce agreements.