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Instructions for Form IT-652
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Instructions for Form IT-652 Employer-Provided Childcare Credit - New York
This document contains official instructions for Form IT-652 , Employer-Provided Childcare Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-652 is available for download through this link.
FAQ
Q: What is Form IT-652?
A: Form IT-652 is a tax form used to claim the Employer-Provided Childcare Credit in New York.
Q: Who can claim the Employer-Provided Childcare Credit?
A: Employers who provide childcare services to their employees in New York can claim this credit.
Q: What expenses are eligible for the credit?
A: Expenses related to providing childcare services to employees, including wages and related taxes, are eligible for the credit.
Q: How much is the credit?
A: The credit is equal to 25% of the eligible expenses, up to a maximum of $150,000.
Q: How do I apply for the credit?
A: To apply for the credit, employers must complete Form IT-652 and include it with their New York state income tax return.
Q: When is the deadline to file Form IT-652?
A: Form IT-652 must be filed with the employer's New York state income tax return by the due date of the return.
Q: Are there any special requirements for claiming the credit?
A: Yes, employers must meet certain requirements, such as providing childcare services at or near the worksite, maintaining certain records, and complying with licensing and certification requirements.
Q: Can I claim this credit if I provide childcare services as a self-employed individual?
A: No, the Employer-Provided Childcare Credit is specifically for employers who provide childcare services to their employees, not for self-employed individuals.
Q: What if I have more questions or need assistance with Form IT-652?
A: You can contact the New York State Department of Taxation and Finance for further assistance or seek the help of a tax professional.
Instruction Details:
- This 2-page document is available for download in PDF;
- Might not be applicable for the current year. Choose a more recent version;
- Complete, printable, and free.
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