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Did you know that the Child and Dependent Care Tax Credit can help to offset the cost of your child’s day camp this summer? Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. But, the IRS has some good news for parents: those added expenses may help you qualify for a tax credit.Summer day camp is considered a childcare expense; however, overnight camps, summer school and tutoring do not qualify. Here is what you need to know about the tax credit available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the summer and throughout the rest of the year.
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The annual deadline for most people to file their federal income tax return and pay any taxes they owe from 2012 was April 15th. By law, the IRS may assess penalties to taxpayers for failing to file a tax return and for failing to pay taxes they owe by the deadline. The IRS released 8 important points for tax payers about penalties for filing or paying late. 
If you missed this year’s tax deadline, you may be thinking to yourself, “What should I do?” Below we highlight some advice and tips the IRS has issued for taxpayers who missed the April 15th tax filing deadline. 
The tax deadline is fast approaching and we are here to make sure you do not throw away your hard earned money by missing tax deductions. One of the ways you can reduce your tax liability is to decrease your taxable income by taking advantage of tax deductions. 