Internal Revenue Code Section 21

URI: https://gptkb.org/entity/Internal_Revenue_Code_Section_21
GPTKB entity
Statements (24)
Predicate Object
gptkbp:instanceOf gptkb:United_States_federal_law
gptkbp:amendedBy gptkb:Tax_Cuts_and_Jobs_Act
gptkb:American_Rescue_Plan_Act_of_2021
gptkbp:appliesTo taxpayers with employment-related expenses for care of qualifying individuals
gptkbp:cardType nonrefundable tax credit
gptkbp:codifiedIn gptkb:Title_26_of_the_United_States_Code
gptkbp:compatibleWith married filing separately (with exceptions)
gptkbp:dateEnacted 1976
gptkbp:enactedBy gptkb:United_States_Congress
https://www.w3.org/2000/01/rdf-schema#label Internal Revenue Code Section 21
gptkbp:maximumCreditPercentage 35%
gptkbp:maximumEligibleExpenses $3,000 for one qualifying individual
$6,000 for two or more qualifying individuals
gptkbp:minimumCreditPercentage 20%
gptkbp:partOf gptkb:Internal_Revenue_Code
gptkbp:providesFor gptkb:Child_and_Dependent_Care_Credit
gptkbp:qualifyingIndividual dependent physically or mentally incapable of self-care
spouse physically or mentally incapable of self-care
dependent under age 13
gptkbp:reducesCredit as taxpayer's adjusted gross income increases
gptkbp:requires taxpayer to have earned income
gptkbp:taxStatus gptkb:Form_2441
gptkbp:bfsParent gptkb:Child_and_Dependent_Care_Tax_Credit
gptkbp:bfsLayer 7