You'll need to sign in or create an account to connect with an expert.
Although care that provided while you look for work is "qualifying" care for the credit, the dollar amount of the credit is limited by your actual earned income. So if you looked for work but didn't actually find work, then you don't get the dependent care credit. If you lie and claim you were a full time student, you would qualify for a portion of the credit for each month in which you claim to be a full time student. If audited, and you could not prove you were a student, you would be assessed back taxes, late fees, interest, and an additional 25% penalty for deliberate fraud. While the IRS normally can only audit you for 3 years (statute of limitations) there is no statute of limitations for intentional fraud.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
brnjicd-00
New Member
Dave_P-67131
Level 1
Chuck48
Level 3
LongRoadLover
New Member
Duker3211
New Member