Get Credit (The Child Care Kind) Where Credit Is Due

The latest edition of the Family Initiative Bulletin, produced by Legal Momentum, encourages families to take advantage of available tax breaks. Federal and state tax credits can provide substantial savings to eligible families. For example, during the 2005 tax filing season, eligible families can claim up to $2,100 from the federal Child and Dependent Care Credit, $1,000 per child from the federal Child Tax Credit, and $4,300 from the federal Earned Income Tax Credit. Additionally, 26 states and the District of Columbia have state child and dependent care tax provisions and 17 states and the District of Columbia have state earned income tax credits, which can provide additional help in paying for child care and other necessities. To learn more about how to claim these credits, you can find a new publication by the National Women’s Law Center’s Tax Credit Outreach Campaign, Credit Where Credit Is Due: Lower Your Taxes or Increase Your Refund to Help Your Family.