Search Results for keywords:"tax credit refundability"

Search Results: keywords:"tax credit refundability"

S. 3657 — To amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit and make the credit fully refundable for certain taxpayers.
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January 24, 2024
Status:Introduced in Senate
Congress:118
Words:1,043
S. 3657 aims to amend the Internal Revenue Code to improve the Child and Dependent Care Tax Credit. It proposes to increase the credit amount and make it refundable for certain taxpayers, meaning eligible families could receive money back even if they owe no taxes. The bill...
Simple Explanation
Here’s a simple story: The big people who make rules about money want to change the way families get help paying for someone to take care of kids while they work. They plan to give more money back to families, even if they don’t owe any money, so they can have enough for their kids' care.
H. R. 7252 — To amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit and make the credit fully refundable for certain taxpayers.
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February 06, 2024
Status:Introduced in House
Congress:118
Words:979
H.R. 7252 seeks to amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit. The bill proposes to increase the applicable percentage for the credit to 50 percent, change the credit's income-related phaseout, and raise the creditable dollar...
Simple Explanation
H.R. 7252 is a plan to help families pay for childcare by letting them get more money back on their taxes, even if they don't owe any taxes, and it's also going to update these amounts each year to keep up with inflation.
H. R. 7360 — To amend the Internal Revenue Code of 1986 to increase and make fully refundable the Child and Dependent Care Tax Credit, to increase the maximum amount excludable from gross income for employer-provided dependent care assistance, and for other purposes.
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February 14, 2024
Status:Introduced in House
Congress:118
Words:1,256
The bill H.R. 7360, titled the “Promoting Affordable Childcare for Everyone Act” or the “PACE Act”, aims to amend the Internal Revenue Code of 1986 to increase and make fully refundable the Child and Dependent Care Tax Credit. It also proposes to raise the maximum amount that...
Simple Explanation
The PACE Act is like the government giving families more money to help pay for babysitters or daycare. It also wants to let workers keep more money if their boss helps pay for childcare.

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