H.R. 7991, the “Safeguarding American Workers’ Benefits Act,” aims to change the rules for claiming the child tax credit and earned income tax credit. It requires taxpayers to include valid Social Security numbers for themselves and their qualifying children when filing for...
H.R. 7991 makes sure that only people with certain valid Social Security numbers can get special money from the government for having kids or working, and these rules start after December 2024.
S. 5412 proposes to amend the Internal Revenue Code of 1986 by increasing the amount of money that can be excluded from taxable income for dependent care assistance programs. The bill seeks to raise the current exclusion limit from $5,000 ($2,500 for married individuals...
Congress wants to make it easier for families to pay for someone to take care of their kids while they work by letting parents keep more of their money without paying taxes on it. They want to change a rule so parents can keep a bigger chunk of their money from taxes when they spend it on someone helping with their kids.
Showing 1 to 2 of 2 results