credit that we are discussing. It is a separate beast. They only consider 2 children (you can have more but don't get anything extra) with the childcare tax credit limit and both spouses need to be working to qualify. In all honesty, I have no clue what the extra child tax credits would do to this credit. I do know that the childcare FSA simply reduces your taxable income. If you need to know more, I'd ask an accountant.