Confused about the impact the American Rescue plan has on your Child and Dependent Care Tax Credit?
Look no further, our friends at Bipartisan Policy Center complied information about the tax credit and created a calculator to help you determine how much your family could save.
Under the American Rescue Plan, Congress expanded the Child and Dependent Care Tax Credit so that families and individuals could save almost four times as much on their child care expenses during 2021, as compared to last year. Visit our calculator to see how much you could save.
For more on what expenses might count, and for other FAQ’s, please view the IRS website on this topic.