Thanks for subscribing! Please check your email for further instructions.
Childcare or adult dependent care can be a major expense. Fortunately, the child and dependent care credit can provide some relief.
According to the IRS, taxpayers who pay for daycare expenses may be eligible to claim up to 35% of what they spend; limits apply.
How does the IRS define a qualifying person?
For the purposes of this credit, the IRS defines a qualifying person as:
Taxpayers can use the Interactive Tax Assistant on IRS.gov to determine if they can claim this credit.
More information can be found on the IRS website:
If you have dependent care expenses and are not sure how this credit may apply to your specific tax situation, contact our office for more information.
Save my name, email, and website in this browser for the next time I comment.