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HR 5326 113th Congress House Taxation Aging Bank accounts, deposits, capital Child care and development Disability and paralysis Employee benefits and pensions Health care costs and insurance Income tax deductions Income tax exclusion Long-term, rehabilitative, and terminal care

Dependent Care Savings Account Act of 2014

Introduced: July 31, 2014 Introduced by: Cassidy, Bill Republican · Louisiana See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2014
Referred to the House Committee on Ways and Means.
Jul 31, 2014
Introduced in House
 Plain-English summary Congressional Research Service

Dependent Care Savings Account Act of 2014 - Amends the Internal Revenue Code to: (1) establish tax-exempt dependent care savings accounts to pay the employment-related expenses of caring for a dependent of the taxpayer, (2) allow a deduction from gross income (above-the-line deduction) of up to $5,000 in a taxable year for cash contributions to such accounts, (3) set forth rules for the tax treatment of account distributions and for excess contributions to an account, and (4) impose a tax on employers who fail to make comparable contributions to a dependent savings account for all participating employees.

What's happening now July 31, 2014

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1