En esta noticia
Those in the United States who care for and financially support an older adult, such as a father, mother, or other elderly relative, can access a financial benefit through the tax system.
This is not a direct deposit, but rather an IRS credit that reduces what the person must pay in taxes, designed to ease the burden on those who have an older adult in their care.
The credit that benefits those who care for and live with older adults
The main benefit is the so-called Credit for Other Dependents (ODC), sometimes known as the “family caregiver credit.” It is a credit of up to 500 dollars for each qualifying dependent who does not meet the requirements for the child tax credit.
Unlike assistance that is received in cash, this is a nonrefundable credit: it reduces the tax the person must pay (down to zero), but it is not returned as money if no taxes are owed. Even so, for many families it represents a concrete saving when filing the return.
According to sector estimates, 1 in 5 eligible taxpayers do not claim this type of credit, often because they do not know they are entitled to it.
Requirements to obtain financial assistance for living with people over 65
To claim the credit for having an older adult in your care, the following conditions generally must be met:
- Relationship or cohabitation: the older adult must be a qualifying relative (father, mother, grandparent, etc.) or a person who has lived with the taxpayer throughout the year.
- Financial contribution: the taxpayer must cover more than half (50%) of that person’s total support during the year.
- Income limit for the older adult: the dependent cannot have gross income above 5,300 dollars in 2026. One key point: Social Security income generally does not count toward that limit, which allows many retirees to qualify.
- Status and identification number: the dependent must be a U.S. citizen, national, or resident and have a valid Social Security number or taxpayer identification number (ITIN).