Summertime can be a challenge for working parents, and costly. Now there is an additional tax benefit to sending your child to a summer day camp. The IRS has recently announced that those added expenses for sending your child to summer day camps may help you qualify for a tax credit. This can be very helpful for parents seeking arrangements for their under 13 children during the break between school. Basically, The Child and Dependent Care Credit are not just for the school year. It's available for expenses incurred during the summer as well! Here are five facts the IRS wants you to know about the tax credit available for summertime child care expenses:
- The cost of day camp may count as an expense towards the child and dependent care credit.
- Expenses for overnight camps do not qualify.
- Whether your childcare provider is a sitter at your home or a daycare facility outside the home, you'll get some tax benefit if you qualify for the credit.
- The credit can be up to 35 percent of your qualifying expenses, depending on your income.
- You may use up to $3,000 of the unreimbursed expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals to figure the credit.
- For more information check out IRS Publication 503, Child and Dependent Care Expenses, you can call the IRS at: 1-800-829-3676.
Learn How To Get a Tax Credit From Summer Day Camp!
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