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If I use the Flexible Benefits program for dependent care expense, what impact will it have on the federal child care tax credit?

April 26, 2017Benefits child care dependent expense Federal flexible impact program tax credit

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If I use the Flexible Benefits program for dependent care expense, what impact will it have on the federal child care tax credit?

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Effective January 1, 1989, your federal child care tax credit will be reduced dollar for dollar by the amount of salary redirected to the dependent care spending account. You cannot take a double deduction.