
Media release – Rep. John Talley, OK House of Representatives
(Stillwater, Okla) — 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 Bill 1029X is the most expansive caregiver tax credit in the nation.
Caregivers with a federally adjusted gross income below $50,000 for single filers or $100,000 for joint filers providing for family members can apply for a $2,000 credit per year. If their family member is a veteran or has a dementia-related diagnosis, that credit can increase up to $3,000 per year.
The tax credit is designed to cover up to 50% of eligible caregiver costs. This includes home modifications like adding grab bars and installing a ramp, durable medical equipment, assistive technologies, home health services and more.
The caregiver must be a dependent, spouse, parent or other relation by blood or marriage. The Oklahoman receiving care must be 62 or older and require assistance with at least two activities of daily living as certified by a licensed health care provider.
Oklahoma has 490,000 family caregivers who provide an estimated $6.6 billion in unpaid care. Around 93% of family caregivers pay out-of-pocket for expenses, with the average individual spending an estimated $7,200 a year caring for their loved one.
The emotional burden on a family of caring for a loved one and seeing their health decline can be intense, and this bill seeks to lessen that burden by providing some financial relief.
If you qualify for this tax credit, be sure to save your receipts on eligible expenses this year. More information about Oklahoma’s new family caregiver tax credit and how to claim the credit may be found at www.aarp.org/OKCaregiverTaxCredit.
I also want to make you aware of a new check-in system now available at one of the Service Oklahoma locations in Stillwater.
Oklahomans visiting the office at 701 East 12th Avenue now have the option to check-in to a virtual queue upon their arrival. After visiting the location, you can add your name to the virtual waiting list and then go about your day before returning for your service time. You can also check your place along the way.
Service Oklahoma, which has handled driver’s licenses and vehicle services since 2022, has piloted this new system at other locations, where they’ve seen positive results. They are wanting to expand this to all operators across the state, but as of right now, the 12th Avenue location is the only Stillwater office to offer virtual queues.
As always, please contact me at 405-557-7304 or [email protected] with any concerns I may be able to assist with. Thank you for the honor of representing House District 33 at the State Capitol!