Tax Information
Tax Credits
Three federal tax credits are available to help pay for child care:
Child and Dependent Care Tax Credit
The federal Child and Dependent Care Tax Credit Credit is designed to offset some of the child and dependent care costs that families pay in order to work. This credit is worth up to $2,100.
Child Tax Credit
The federal Child Tax Credit is designed to help families offset some of the costs of raising children. This credit is worth up to $l,000 per child. Even families who owe little or no income tax can receive at least some of this credit as a refund if they have at least $11,300 in earnings.
Earned Income Tax Credit
The federal Earned Income Tax Credit is designed to boost the wages of eligible families (married couples earning less than $38,348 or singles earning less than $36,348). It is worth up to $4,536 and is available as a refund for families that owe little or no income tax.
Tax information and forms are available at the IRS Website or call 800-829-1040.
