Parents who have to work and have children under the age of 13 in daycare during the summer may qualify for a nice tax credit. Below are some things the IRS will ask you to see if you qualify for this tax break.
1. If you child goes to day camp this may be considered an expense by the IRS. So they will want to know your total cost of the camp.
2. If the camp is an overnight camp expenses incurred for this won’t qualify.
3. Is your daycare provider someone who comes to your home or do you use a daycare service outside your home?
– Your child care credit could be up to 35% of your qualified expenses which depends on your income.
– You can use up to 3,000.00 dollars of your unreimbursed child care expenses or 6,000.00 dollars for two or more qualifying individuals.
Now I know this can be confusing so to make things easier on you use the contact information below.
Questions: 1-800-829-3676
Childcare and Dependent Expenses Report: http://www.irs.gov/pub/irs-pdf/p503.pdf
