What are the benefits of the 2022 infant and child care personal income tax? How to apply specifically? Attach details

Starting from 2022, one more special deduction item for personal income tax can be reported, which means that people whose wages reach the tax standard can pay less personal income tax. So what are the benefits of personal income tax for caring for infants and young children under 3 years old in 2022? How to apply specifically? The details are as follows:

1. What are the benefits of the 2022 infant and child care personal income tax?

1. Benefit of individual income tax for infant and child care: Reducing the burden of raising children

After the cost of caring for infants and young children under the age of 3 is included in the special additional deductions for personal income tax, it will help reduce the burden of raising children on taxpayers. The prices of infant formula, diapers and various vaccines are not low now. According to a friend of the editor, the most basic expenses would cost three to four thousand yuan per month. This does not include the money some people spend on hiring a nanny or when their children are sick. Previously, infant and child care expenses were not included in the special deductions for personal income tax. After being officially included this year, some people in higher-income groups can receive a little more salary every month.

2. The second benefit of personal income tax for infant and child care: reducing the amount of tax payable

The main benefit of special deduction items in personal income tax is that they reduce taxable income and thus the amount of tax payable. If you add infant care, housing loan interest, and support for the elderly, when you reach the national wage and personal income tax payment standards, you can deduct a lot less tax every month. Take Xiao Wang, who earns 5,000 yuan a month, for example. If he declares the care of infants and young children under the age of 3 in the special deduction for personal income tax, his monthly salary will be around 5,000 yuan, and not much tax will be deducted.

3. Benefit 3 of individual income tax for infant and child care: reduced economic pressure

The special additional deduction policy for the care of infants and young children under the age of three is a tangible welfare benefit that will benefit thousands of households. As one of the supporting measures for optimizing the fertility policy, increasing the pre-tax deduction for infant and young child care expenses will help reduce the burden on taxpayers to raise children, reflect the state's encouragement and care for the people's childbirth and upbringing, and will help promote the long-term balanced development of the population.

2. How to apply for personal income tax for infant and child care?

1. Step 1: Declare in the individual tax APP

Log in to the personal income tax APP on your mobile phone, and you can enter the special additional deduction reporting interface through the special additional deduction reporting for common business or the special additional deduction reporting for tax affairs on the homepage, and select the special additional deduction for infant and child care expenses.

2. Step 2: Select the deduction year

After entering the declaration interface, select the deduction year as 2022. After clicking confirm, the system will prompt the information that needs to be prepared in advance. After the taxpayer reads it carefully, click ready and enter the declaration.

3. Step 3: Fill in deduction information

Including taxpayers entering email addresses, contact addresses, etc. After filling in the form, click Next to enter the child information interface. Click Select in the Select Children item to enter the Select Children interface.

4. Step 4: Set the deduction ratio

After completing the children's information, taxpayers can choose 100% (full deduction) or 50% (average deduction) in their deduction ratio based on actual circumstances. Once you have completed your selection and confirmed, click Next.

5. Step 5: Choose the declaration method

After setting the deduction ratio, the taxpayer will enter the declaration method interface. Taxpayers can choose to declare through the withholding agent or declare by themselves on the comprehensive income year according to the actual situation. If taxpayers need to enjoy special additional deductions when receiving monthly wages and salaries, they need to choose to declare through a withholding agent. After making your selection, click Submit.

In general, there are many benefits to including infant and child care in the special deductions for personal income tax. The biggest one is to reduce the monthly tax payable for personal income tax. The application needs to be completed by filling out the application on the Personal Income Tax APP.