H.R. 1369 would amend the Internal Revenue Code of 1986 to expand and improve the dependent care tax credit.
Detailed Summary
Amends the Internal Revenue Code to: (1) increase the dollar limitation on employment-related expenses that qualify for the tax credit for expenses for household and dependent care services necessary for gainful employment (dependent care tax credit); (2) repeal the requirement that a disabled dependent and the taxpayer share the same residence to qualify for such credit; (3) require the Secretary of the Treasury to prescribe regulations to qualify retirees for such credit; and (4) make such credit refundable.
Makes permanent the increases in the dependent care tax credit enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001.
Status of the Legislation
Latest Major Action: 3/5/2009: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
Points in Favor
(Log in to edit the wiki and be the first to show why the bill should pass!)
Points Against
(Log in to edit the wiki and be the first to show why the bill should not pass!)
Visitor Comments
There are currently no comments for this bill.