{"id":28534,"date":"2024-02-19T18:05:10","date_gmt":"2024-02-19T23:05:10","guid":{"rendered":"https:\/\/blog.eztaxreturn.com\/?p=28534"},"modified":"2024-06-24T09:16:20","modified_gmt":"2024-06-24T14:16:20","slug":"pay-for-childcare-you-can-get-up-to-8000-back-on-your-tax-return","status":"publish","type":"post","link":"https:\/\/staging.eztaxreturn.com\/blog\/pay-for-childcare-you-can-get-up-to-8000-back-on-your-tax-return\/","title":{"rendered":"Can You Claim the Child and Dependent Care Credit?"},"content":{"rendered":"\n

The information in this article is up to date for tax year 2023 (returns filed in 2024).<\/em><\/p>\n\n\n\n

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For many working families, the cost of childcare is a huge financial burden.  According to Care.com, parents spend an average of $321 per week on daycare costs.  That’s almost $1,300 per month or $15,000 for the year. Ouch! Although your wallet may be crying now, you’ll be smiling from ear to ear when you file your federal tax return<\/a>. That’s because you may be eligible for the Child and Dependent Care Credit<\/a>.  The credit can help you get back some of the money you spent on childcare and reduce your tax bill by thousands of dollars.<\/p>\n\n\n\n

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What is the Child and Dependent Care Credit?<\/strong><\/h2>\n\n\n\n

The Child and Dependent Care Credit is a tax credit you may be able to claim if you paid someone to care for your child or dependent with disabilities while you worked or looked for a job.  Qualifying expenses include daycare, preschool, before and after school care, dependent care center, day camp and more.  For a complete list of qualifying expenses, see IRS Publication 503<\/a>.<\/p>\n\n\n\n

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Who is a qualifying child for the dependent care credit?<\/strong><\/h2>\n\n\n\n

You must have a qualifying dependent to claim the credit.  The IRS<\/a> defines this as:<\/p>\n\n\n\n