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Daily Archives: June 17, 2025

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Federal Initiatives: Credit for Caring Act (H.R. 7165 / S. 3702)

UncategorizedBy Meadville Tax ServiceJune 17, 2025

This bipartisan proposal aims to offer a tax credit of up to $5,000 for family caregiverswho incur long-term care expenses. Key details include: Credit Amount: 30% of qualified expenses exceeding $2,000, with a maximum credit of $5,000. Eligibility: Caregivers must have an income greater than $7,500 and provide care for a spouse or dependent relative…

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