HR 7407 · 118th Congress · Taxation
Small Business Dependent Care FSA Opportunity Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2024-02-16)
Plain Language Summary
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Small Business Dependent Care FSA Opportunity Act This bill allows certain small employers (employers with no more than 100 employees who received $5,000 in compensation from an employer) a new three-year tax credit for the startup costs of dependent care flexible spending plans. The amount of the credit is equal to the greater of $500 or the lesser of $250 for each eligible employee, or $5,000. …
Summarized by Claude AI · Non-partisan · For informational purposes only