Child And Dependent Care Credit Definition

You are seeing definition of Child And Dependent Care Credit in Tax Terms Dictionary

Maybe this is not completely definition of Child And Dependent Care Credit but this is the best definition of Child And Dependent Care Credit at this time that we found. In future, this definition of Child And Dependent Care Credit can be modified, please visit our Tax Terms Dictionary more frequently to get latest information.

Home » Tax Terms Dictionary » Credit Terms Dictionary » Child And Dependent Care Credit

Definition Of Child And Dependent Care Credit:

A non-refundable tax credit for unreimbursed childcare expenses paid by working taxpayers.
The Child and Dependent Care Credit is designed to encourage taxpayers to pay childcare expenses so that they can remain gainfully employed. The Child and Dependent Care Credit is claimed on Form 2441 for taxpayers that are filing Form 1040, or Schedule 2 for Form 1040A.The taxpayer, the care provider, thedependent/dependentsmust allmeet certain requirements in order for the taxpayer to qualify for the credit. TheChild and Dependent Care Creditis limited to a rangeof 20% to 35% of $3,000 for one qualifying child or dependentunder age 13 or $6,000 for two or more qualifying persons, depending on the taxpayer's Adjusted Gross Income. For more information, see IRS instructions for Form 2441.

Other Definition Of Tax Terms:

For your more easier in looking up our financial terms dictionary, we classified definitions of financial terms in several types. Please select one type below:
Forex Trader | Insurance | Real Estate | Sale | Revenue | Profit | All Types

Thank you for visiting Tax Dictionary website. We are conituning to upadate more Tax terms to Tax Dictionary. Please visit this website usually to get new definitions of Tax terms. We also provide some more dictionaries, you can find out as below:
Medical Dictionary | Law Dictionary | Legal Dictionary | Business Dictionary | Financial Dictionary | Computer Dictionary | Slang Dictionary