10/29/2002: Changes in Dependent Care Tax Credit May Affect an Employer's Dependent Care Assistance Program (Faegre & Benson LLP)Excerpt: "Employers offering dependent care assistance programs should note that, beginning in 2003, the tax credit that individuals can claim for child and dependent care expenses will increase.... These changes will impact an employee's analysis of whether it is better to claim the tax credit or to participate in pre-tax salary reduction reimbursements through the employer's dependent care assistance program."
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