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Child and Dependent Care Tax Credit (CDCTC)

A tax credit that helps families pay for the care of children under 13 or dependents who are unable to care for themselves, allowing parents to work or look for work.

Internal Revenue Code of 1986

The main body of federal tax laws in the United States, which outlines rules for income, deductions, credits, and other tax-related matters.

Flexible Spending Arrangement (FSA)

A special account that allows employees to set aside money pre-tax to pay for certain out-of-pocket health care or dependent care costs.

Taxable year

The annual period used for calculating income tax liability, typically the calendar year for most individuals.

Grant program

A government initiative that provides money to organizations or individuals for specific projects or purposes, often through a competitive application process.

Qualified benefit

A benefit offered through an employer's cafeteria plan (like an FSA) that can be paid for with pre-tax dollars, such as health insurance or dependent care.

Salary reduction contributions

Money an employee chooses to have deducted from their paycheck before taxes are calculated and put into an account like an FSA.