Caregiver Financial Relief Act (2008)

Federal bill would provide a refundable tax credit of $3,000 for caregivers of family members with long-term care needs, for up to two such family members. The amount of the new credit would decrease as a caregiver's income increases once he or she meets a certain threshold ($150,000 for a joint return, $100,000 for an individual). There are no age restrictions on care recipients; those under 18 must have special needs. The bill would also amend the dependent care tax credit by providing the credit to taxpayers caring for a parent (or ancestors of a parent) who do not reside with the taxpayer and by allowing an increased exclusion from gross income for employer-provided dependent care assistance. The new tax credit and the amendments to the dependent care credit would expire after 2010.

Bill Number H.R. 6390

Sponsor Rep. Corrine Brown (D-FL)

Date of Introduction 6/26/2008

Latest Activity Bill did not pass in the Legislative session.

More Info http://thomas.loc.gov/

Topic: Caregiver Tax Incentives