Enter your expected dependent care expenses for the year ahead. Estimate your expenses carefully. Due to the IRS "use it or lose it" rule, you will forfeit any money remaining in your Dependent Care Flexible Spending Account at the end of the plan year if you have not filed a claim for it by the claim deadline for that year. The Dependent Care Flexible Spending Account will reimburse expenses up to the current balance of your account. Information about eligible expenses is available at www.irs.gov in IRS Publication 503.
Also, keep in mind that you may be eligible to take advantage of the federal tax credit for child and dependent care as an alternative to using the Dependent Care Flexible Spending Account. You may wish to consult a tax advisor to determine whether the federal tax credit or Dependent Care Flexible Spending Account is best for you.
Please enter amounts in whole dollars (no decimal point, comma, or dollar sign) for the 2012 plan year (January 1 - December 31).
to determine the following:
form and enter new projection amounts. To modify a current scenario, simply adjust the numbers above and click the Calculate/Re-calculate button.
Note: This Dependent Care Flexible Spending Account Estimator is an estimating tool only. Estimate your out-of-pocket expenses carefully. You cannot change your contribution amount after enrollment ends, unless you experience a qualified status change. You forfeit any money you have not claimed by the claim filing deadline for the plan year.
Using this tool does not enroll you in a Dependent Care Flexible Spending Account.
