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June 15, 2016
School is out for summer and for many households that means the start of summer camp.
Did you know that the cost of summer day-camps may count as a qualified expense for purposes of the dependent care credit? As families consider the cost-benefit of sending their kids to camp, it is important to consider these potential tax deductions:
Be advised that the name, address, and federal tax identification number of the child care provider must be provided on Form 2441 of your personal return. In addition, some exceptions do apply:
If this applies to you, you can obtain more detailed information by reading Publication 503 issued by the IRS. You may also call our firm at (217) 351-2000 with any questions.