Parent Tax Credit Act

Summary

Parent Tax Credit Act This bill allows an eligible individual a tax credit of $6,000 ($12,000 in the case of a joint tax return), with a limitation based on a minimum earned income level. The bill defines eligible individual as any individual who has a qualifying child who is not yet 13. The eligible individual may not be a nonresident alien, any alien unlawfully present in the United States, and any individual who is a dependent of another taxpayer. To be eligible for the credit, the taxpayer must include on the return of tax a valid Social Security account number. The bill requires the Internal Revenue Service to establish a program for making advance payments of the credit to taxpayers on a monthly basis. The bill terminates the child and dependent care tax credit after 2021.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 28 April 2021

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 28 April 2021

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• Introduced in Senate

  summary · EN · 28 April 2021

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