S.3295

Establishes a tax credit for adult child caregivers who assist elderly relatives with daily living activities.

The bill amends the Internal Revenue Code to create a tax credit for adult child caregivers. The credit is available for caregivers who assist a qualified relative, defined as a U.S. citizen who has attained age 55 and requires substantial help with at least one activity of daily living and three instrumental activities of daily living. The caregiver must provide at least 10 hours of assistance per week. The credit is limited to $2,000 per qualified relative, with a reduction based on the taxpayer's adjusted gross income.