To qualify, the school or center must comply with state and local laws, serve at least seven individuals, and receive a fee for its services. back to top What Are The Items A Dependent Care Account Do Not Cover?
• Services provided by your spouse. • Services provided by a child of yours younger than 19. • Services provided by a dependent that you claim as an exemption for federal income tax purposes. • Nursing home or custodial care. • Overnight camp expenses. • Baby-sitting expenses for time when you are not working. • Tuition expenses for schooling. • Expenses claimed under the Dependent Care Tax Credit. Please Note: If you use the Dependent Care Flexible Spending Account, or take a federal income tax credit for your dependents, the IRS requires that you provide the name, address, and social security/tax identification number for your provider. back to top How Do Flexible Spending Accounts Affect Your Spendable Income? Here are two examples: Example # 1 – Dependent Care and Medical Care Reimbursement accounts Denise is a married, full-time employee earning $33,000 per year. Her husband, Tom, earns $26,000. Their household income is $59,000. They spend $2,500 per year for daycare for their pr
Related Questions
- To qualify, the school or center must comply with state and local laws, serve at least seven individuals, and receive a fee for its services. back to top What Are The Items A Dependent Care Account Do Not Cover?
- Does a charter school qualify for state and federal grant funds in the same manner as a local school district?
- Can a property manager help me comply with federal, state and local laws?
