Dependent Care Amendments Act of 1981

[AI summary unavailable — showing source text] Dependent Care Amendments Act of 1981 - Amends the Internal Revenue Code to increase the tax credit for household and dependent care services necessary for gainful employment from 20 to 35 percent of the costs of such services. Makes such credit refundable. Permits such credit for the costs of day care services performed outside the taxpayer's household for a handicapped dependent or spouse who returns to the household each day. Establishes a minimum income for individuals engaged in business on an substantially full-time basis to be utilized in the computation of the earned income limitation on the amount of such credit. Includes as a tax-exempt organization any organization which provides nonresidential dependent care services to the general public for purposes of enabling individuals to be gainfully employed. Treats the value of any such services provided by an employer and included in the income of an employee as having been paid by the employee.…