IRS Publication 503 and Form 2441 (Child and Dependent Care) Available for 2019 Tax Filing Season

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The IRS has released Publication 503 for use with 2019 tax filings. This is used in preparing itemization for child and dependent care expenses for federal income taxes.

The IRS has released Form 2441 (Child and Dependent Care Expenses) and the accompanying Form 2441 Instructions for the 2019 tax yearForm 2441 can be used to report participation in a Dependent Care Flexible Spending Account (DCFSA) and/or determine any eligible dependent care tax credit (DCTC). The Form 2441 is filed with the taxpayers Form 1040 when they file their federal tax returns. Employees who have elected the maximum $5,000 for 2019 in a DCFSA may still qualify for up to an additional $1,000 of the DCTC if their expenses exceed $5,000 and if they have two or more qualifying individuals and meet other DCTC requirements.

Generally, those who are married must file a joint federal tax return to claim the Child and Dependent Care Expense credit. New on Form 2441 this year, there is a “married persons filing separately” checkbox.  If you claim the credit and your filing status is married filing separately, you are now required to show you meet the special requirements detailed in the instructions.

Categories: Benefits in General, Compliance | Tags: Publication 503 , IRS Pub 503 , 2019 tax filing , Child and Dependent Care , Form 2441 , Form 2441 Instructions | Return