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 New York 216 2018

Ny it 216 2018-2025 Form

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Instructions and help about 2016 216

The child and dependent care credit is  a tax credit that may help a taxpayer   pay for the care of eligible children  and other dependents. The credit is   calculated based on the taxpayer's income and  a percentage of expenses that he or she incurs   for the care of qualifying persons to enable them  to go to work, look for work, or attend school.  For 2021, the American Rescue Plan  Act of 2021, enacted March 11,   2021, made the credit substantially more  generous (up to $4,000 for one qualifying  and $8,000 for two or more qualifying persons) and potentially refundable  Refundable means that the  taxpayer may not have to owe taxes   to claim the credit (as long as  they meet the other requirements). More taxpayers will be eligible  for the credit for the first time.   For many taxpayers, the amount of the credit  will be larger than in prior years. However,   taxpayers with an adjusted gross income over  $438,000 are not eligible for this credit

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