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Minimize the Impact of the Kiddie Tax with Proper Planning

Alison Quinn |
Emerald GEMs

April 20, 2021—When the “kiddie tax” became law in 1986, the IRS began taxing a child’s unearned income, such as interest and dividends, at the parent’s tax rate rather than at the child’s far lower rate. Although the kiddie tax rules can lead to harsh consequences for many families, with proper planning they may create tax-saving opportunities for higher-income taxpayers.

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