Tip:
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JODI: Here's a tip from the IRS.
Hi. I'm Jodi, and I work for the Internal Revenue Service.
If you're like me, a member of the sandwich generation,
you have parents who are getting older
and children who are becoming young adults.
It's very common for many of us
to help our parents and our children with their taxes,
so here are a couple of things to keep in mind.
If your relatives have simple returns,
consider using Free File, a free e-file service,
which is available only through IRS.gov.
You can prepare and file their returns for free
through easy-to-use software.
Remember, you can usually claim your children as dependents
if they're younger than 24 and in school,
or they can claim themselves on their own tax return,
but never on both.
Also, if you're e-filing
your child's tax return for the first time,
just put zero when the software asks
for the previous year's income.
Finally, if you're preparing a tax return for a relative
or even if you use a paid preparer,
you and your family members should consider naming you
as a third-party designee on the tax form.
That way, the IRS can contact you
if there's a problem with your family member's tax return.
Otherwise, the IRS is prohibited by law
from disclosing taxpayer information
to anyone except the taxpayer.
A third-party designation can help if issues develop later.
These tips can make tax time less taxing
if you're helping your parents and your kids
as part of the sandwich generation.
Learn more on IRS.gov.