S. 74 · 114th Congress
Dependent Care Savings Account Act of 2015
- Stage
- In committee
- Sponsor
- David Vitter
- Introduced
- 2015-01-07
- Latest action
- 2015-01-07 · Introduced in Senate
Summary
Dependent Care Savings Account Act of 2015
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.