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S. 4647119th CongressIn committeeLatest action Jun 1, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
S 4647 would give family caregivers a federal tax credit of up to $1,200 a year for out-of-pocket elder care expenses.
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S 4647 would create a federal tax credit covering up to 20 percent of out-of-pocket costs for caring for an elderly relative or household member, on a maximum of $6,000 in expenses per year, making the largest possible credit $1,200. Eligible expenses include medical care, adult day programs, home modifications, assistive devices, personal care, and caregiver counseling. The credit phases down as income rises above $120,000 and disappears entirely at higher income levels.
The credit is available to working-age adults who pay out of pocket to care for a parent, stepparent, in-law, grandparent, or other household member who is 65 or older and needs help with basic daily activities. It cannot be claimed for someone already listed as a dependent on the filer's taxes.
Family members who currently absorb elder care costs on their own would have a portion of those expenses offset through the tax system. The elderly individuals receiving care would not directly benefit from the credit, but the financial pressure on the people paying for that care could be reduced.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Finance.