Topic: Child and Dependent Care Credit

IRS says get Credit for Child and Dependent Care this Summer

June 25, 2014 |

Washington, D.C. – Many parents pay for childcare or day camps in the summer while they work.

If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes.

Here are 10 facts that you should know about the Child and Dependent Care Credit.

http://www.youtube.com/watch?v=iehimv_UEY4 «Read the rest of this article»

IRS information on Claiming the Child and Dependent Care Tax Credit

February 25, 2014 |

Washington, D.C. – The Child and Dependent Care Credit can help offset some of the costs you pay for the care of your child, a dependent or a spouse.

Here are 10 facts the IRS wants you to know about this tax credit. «Read the rest of this article»

Internal Revenue Service gives Eight Tax-Time Errors to Avoid

February 18, 2013 |

Washington, D.C. – If you make a mistake on your tax return, it can take longer to process, which in turn, may delay your refund.

Preparing your return on a computer and e-filing it will significantly reduce the chance of errors, but even then it’s still important that you input the correct information. «Read the rest of this article»

Child and Dependent Care Costs May Qualify for Tax Credit

January 20, 2013 |

Washington, D.C. – If you paid someone to care for your child, spouse, or dependent last year, you may qualify to claim the Child and Dependent Care Credit when you file your federal income tax return.

Below are 10 things the IRS wants you to know about claiming the credit for child and dependent care expenses. «Read the rest of this article»

IRS Reminds Parents of Ten Tax Benefits

January 31, 2012 |

Washington, D.C. – Your kids can be helpful at tax time. That doesn’t mean they’ll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits.

Here are 10 things the IRS wants parents to consider when filing their taxes this year.

«Read the rest of this article»

IRS Offers Summer Tax Tips

May 27, 2011 |

Nashville, TN – Before you start a summer job, take a vacation, or send the kids off to camp, the Internal Revenue Service wants you to know that certain summertime activities may help you qualify for tax benefits. However, there are also some tax issues that must be handled correctly now to avoid problems later.

“Remember that some common summertime activities can lead to tax benefits, but they can also lead to tax problems if not handled correctly,” said IRS spokesman Dan Boone. «Read the rest of this article»

Ten Tax Benefits for Parents

February 19, 2011 |

Washington, D.C. – Did you know that your children may help you qualify for some tax benefits? Here are 10 tax benefits the IRS wants parents to consider when filing their tax returns this year.

1. 1.   Dependents In most cases, a child can be claimed as a dependent in the year they were born. For more information see IRS Publication 501, Exemptions, Standard Deduction, and Filing Information.
2. Child Tax Credit You may be able to take this credit on your tax return for each of your children under age 17. If you do not benefit from the full amount of the Child Tax Credit, you may be eligible for the Additional Child Tax Credit. For more information see IRS Publication 972, Child Tax Credit. «Read the rest of this article»

Ten Tips for Taxpayers with Tots and Teens

January 12, 2010 |

With tax season fast approaching the IRS would like to ensure you have the best information available to make informed decisions on tax matters as you prepare your 2010 income tax returns.

Got Kids? They may have an impact on your tax situation. Listed below are the top 10 things the IRS wants you to consider if you have children.

Dependents

In most cases, a child can be claimed as a dependent in the year they were born. For more information see IRS Publication 501, Exemptions, Standard Deduction, and Filing Information

Child Tax Credit

You may be able to take this credit on your tax return for each of your children under age 17. If you do not benefit from the full amount of the Child Tax Credit, you may be eligible for the Additional Child Tax Credit. The Additional Child Tax Credit is a refundable credit and may give you a refund even if you do not owe any tax. For more information see IRS Publication 972, Child Tax Credit. «Read the rest of this article»

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