One thing that most parents everywhere can agree upon is child care expensive. However, there there is a tax credit available that can help offset part of your child care expenses. If you have one or more children under the age of 13, have earned income and paid someone to care for your child while you work or looked for work than you may be eligible to take the Child and Dependent Care Credit when you file your taxes.
Parent's who wish to claim this credit must file form 2441 with your 1040. If you will be using the 1040E you will want to use the Schedule 2. Most child care providers will give you the information you will need including their social security number or EIN along with the amount you have paid for child care throughout the year. However, if the provider does not supply this information you can still claim this credit.
Along with the child care credit, you may also be eligible to claim the EIC (earned income credit) and CTC (child tax credit) both of which can significantly reduce your taxes and most likely leave you with a refund. Visit the IRS website for more information on the credits available to parents and caregivers.
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