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Are there any special tax reporting requirements for dependent care?

April 26, 2017dependent requirements special tax

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Are there any special tax reporting requirements for dependent care?

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Yes. Participants in a Dependent Care Plan will need to report the TIN (or SSN) of their day care providers on Form 2441 when they complete their annual income tax reporting. Participants will also notice that their W2 forms reflect the amount of income allocated to Dependent Care benefits for the entire tax year.