Saturday 29 October 2022

Opinion: There's a simple way the IRS can help working parents

Last Friday, the IRS announced major changes to tax rules for next year. In 2023, workers will be able to contribute more of their earnings to retirement and health flexible spending accounts, which allow them to pay for medical expenses with pre-tax dollars. But the agency failed to make a change that would make a huge difference for working parents: making child care a legitimate, tax-deductible work expense.

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