Bill > S1670

This bill, the Credit for Caring Act of 2021, amends the Internal Revenue Code to provide a non-refundable tax credit of up to $5,000 (adjusted for inflation) to "eligible caregivers" who incur qualified expenses in excess of $2,000 to care for a "qualified care recipient" - generally a spouse or other close relative who has been certified as having long-term care needs. The credit phases out for taxpayers with higher adjusted gross incomes. The qualified expenses that can be claimed include a range of costs related to caregiving, such as human assistance, assistive technologies, home modifications, and lost wages for unpaid time off. The bill is intended to provide financial relief to working family caregivers who assist elderly or disabled relatives.