New Tax Credit for Caregivers

I want to make sure everybody is aware of a brand new tax credit Oklahoma launched on January 1 this year. Last session, the Legislature gave resounding approval of the Caring for Caregivers Act. Beginning in the 2024 tax year, unpaid family caregivers will be able to claim up to $2,000 or $3,000 in tax credits for out-of-pocket costs incurred for eligible expenses. According to AARP, House…