Is there a maximum amount of expense that maybe reimbursed by a Dependent Care Flexible Spending Account?
Yes. The maximum annual contribution is $5,000 ($2,500 for married participants filing a separate income tax return), but no more than the lesser of the earned income of the employee or his spouse. If your spouse is a full-time student or incapacitated the maximum annual election is $2,400 for one child or $4,800 for two or more children. Q: Who is a qualifying dependent for purposes of a Dependent Care Flexible Spending Account? Dependent care expenses must be provided to qualified persons. A qualified person is defined as any of the following: • A dependent under age 13 who qualified as a dependent for income tax purposes; • A spouse who is physically or mentally unable to care for himself or herself. • A dependent who is unable to care for himself or herself and who qualifies as a dependent for income tax purposes. • If the qualifying person is not under age 13, dependent care expenses incurred outside the home can be reimbursed only if the qualifying person regularly spends at leas
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