Paul L. Caron

Thursday, July 7, 2011

Deducting the Cost of Your Child's Summer Camp

The IRS yesterday released IRS Summertime Tax Tip 2011-01, Summer Day Camp Expenses May Qualify for a Tax Credit and accompanying YouTube video:

The deduction does not apply to overnight camps, as noted during Treasury Secretary Tim Geithner's confirmation hearings when it was revealed that he deducted the expenses of his child's overnight summer camps for three years:

An accountant told Geithner in 2006 that overnight camps were not eligible for a tax break, according to the Senate Finance Committee report. Still, Geithner failed to file amended tax returns and pay his back taxes until shortly before being nominated by Obama.

IRS News, Tax | Permalink

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Is that guy in the video still making a gang sign?

Posted by: Tuphat | Jul 7, 2011 12:01:51 PM