Glossary

Form 2441 – Child and Dependent Care Expenses

What is Form 2441 - Child and Dependent Care Expenses?

Form 2441 is an IRS tax form used to figure and claim the child and dependent care tax credit. This credit can help reduce your tax liability if you pay for childcare or care for a qualifying dependent so you can work or actively look for work. You use the form to calculate the amount of credit you can claim based on your income and care expenses.

  1. Glossary Article

Recommended for You

Municipal Bond and Tax Liens

Municipal bonds and tax liens play pivotal roles in public finance. While municipal bonds fund public projects, tax liens ensure city revenue from delinquent taxes.

EV Mass Transit Expansion Credit

The EV Mass Transit Expansion Credit is a tax incentive designed to promote the adoption of electric vehicles in public transportation fleets. It offers significant tax reductions for qualifying entities expanding their electric vehicle infrastructure.

Advanced Public Utility Workforce Credit

The Advanced Public Utility Workforce Credit is a tax incentive designed to encourage the growth and development of skilled labor in the public utility sector, offering businesses tax relief for qualified training expenses.

Delinquent Tax

Delinquent tax refers to unpaid taxes that have surpassed the due date, potentially leading to penalties or legal actions. Understanding and resolving these taxes are essential for financial compliance.

Form 8941 – Credit for Small Employer Health Insurance Premiums

Form 8941 is the IRS tax form used by eligible small businesses to claim the credit for small employer health insurance premiums, helping offset the cost of providing health coverage to employees. This credit is designed to help small businesses afford health insurance for their employees.

Payment Adjustment Approval

Payment Adjustment Approval involves the processes by which tax authorities authorize changes to tax liabilities. It's crucial for maintaining accurate financial compliance.