A Dependent Care Account, a type of FSA, lets employees set aside pre-tax dollars for eligible child or dependent care so they can work. The IRS caps the annual contribution, and unused funds are generally forfeited at year end.
Yes, but not for the same expenses. Any child or dependent care costs reimbursed through a Dependent Care Account must be excluded from the expenses you claim for the tax credit.
You can use a Dependent Care Account to pay for eligible child or adult care expenses that allow you (and your spouse, if married) to work or look for work.