March 18 2024- Governor Tony Evers signed Assembly Bill (AB) 1023 into law, expanding the child and dependent care tax credit in Wisconsin from 50% to 100% of the federal credit. This move, known as Act 101, aims to provide tax relief to over 110,000 Wisconsin taxpayers. The expansion seeks to address the high cost of child care, making it more affordable for families across the state and enabling more parents to remain in the workforce. The bill increases the maximum amount of qualifying expenses for the credit from $3,000 to $10,000 for one qualifying dependent and from $6,000 to $20,000 for two or more qualifying dependents. These changes will come into effect starting with tax year 2024. Governor Evers emphasizes the need for further long-term investments to reduce out-of-pocket child care costs for working families and support child care providers.
https://www.wsaw.com/2024/03/04/gov-evers-expands-child-dependent-care-tax-credit/?outputType=amp
