Good News: Credit for Caregiver Expenses Included in House Ways & Means List of Tax Provisions
The House Ways and Means Committee has released updated details about proposed tax changes to be incorporated in the budget reconciliation bill, and HCAOA is happy to share that a tax credit for family caregivers - known as the Credit for Caregiving Act as separate legislation - is included in the bill. This credit provides a non-refundable credit, up to $4,000, equal to 50 percent of the qualified expenses paid or incurred by a qualified care recipient during the taxable year through 2025.
HCAOA and members have been strong supporters of this bipartisan proposal to support family members who assist with long-term care, including expenses such as respite care, counseling, support, training, travel, and technology. Click here to learn more about the Credit for Caregiver Expenses included in the bill.
9/15/2021 02:58:01 pm
Does this include expenses to an Agency providing Caregiving Services?
9/17/2021 10:34:58 am
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