Divorced taxpayers with children that fail to include an executed Form 8332 with their tax return will lose the exemption for that particular tax year. Form 8332 (Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent) allows parents to do the following.

• Release a claim to exemption for a child so that the noncustodial parent can claim an exemption for the child.
• Revoke a previous release of claim to exemption for a child.