Are there tax breaks to help with child care costs?
Question
Are there tax breaks to help with child care costs?
Answer
You may be eligible for the Earned Income Tax Credit (EITC). EITC is a tax credit for low-income working families. Depending on your income, you may also be eligible for the Child Tax Credit and Child and Dependent Care Credit. These credits let you deduct the cost of your child care from your Federal, State, or local income taxes if you have a qualifying child. You can call the Internal Revenue Service at 800-829-1040 or visit the Web at http://www.irs.gov/individuals/parents/index.html for more information. The National Women’s Law Center also provides useful child care tax information on the Web at http://www.nwlc.org/details.cfm?id=2860§ion=tax. You can also call 202-588-5185.
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