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If a taxpayer sign the release of form 8332 to the non-custodial parent can the custodial parent still claim the EIC and Dependent care credits?

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Custodial parent signs release (form 8332) to non-custodial parent.  Can the custodial parent claim the EIC and Child Care credit?
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Yes.  Under Prop. Reg. §1.152-2(g)(3) and Notice 2006-86, only the custodian parent is eligible to claim EIC and Dependent Care Credit in relation to the qualifying child in spite of the release.  The non-custodian parent to whom the release is given is allowed to claim the qualifying child only for dependency exemption (which is temporarily reduced to $0 by TCJA) and CTC.

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Level 15

Yes.  Under Prop. Reg. §1.152-2(g)(3) and Notice 2006-86, only the custodian parent is eligible to claim EIC and Dependent Care Credit in relation to the qualifying child in spite of the release.  The non-custodian parent to whom the release is given is allowed to claim the qualifying child only for dependency exemption (which is temporarily reduced to $0 by TCJA) and CTC.

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