Form 150-101-197 Worksheet OR-WFHDC Working Family Household and Dependent Care Credit for Prior Year Expenses - Oregon

What Is Form 150-101-197 Worksheet OR-WFHDC?

This is a legal form that was released by the Oregon Department of Revenue - a government authority operating within Oregon. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 150-101-197?
A: Form 150-101-197 is a worksheet for calculating the Working Family Household and Dependent Care Credit for prior year expenses in Oregon.

Q: What is the Working Family Household and Dependent Care Credit?
A: The Working Family Household and Dependent Care Credit is a tax credit that helps eligible taxpayers in Oregon offset the costs of dependent care expenses.

Q: Who is eligible for the Working Family Household and Dependent Care Credit?
A: To be eligible for the credit, taxpayers must have earned income, be responsible for the care of a qualifying individual, and have incurred qualifying dependent care expenses.

Q: What are qualifying dependent care expenses?
A: Qualifying dependent care expenses include expenses paid for the care of a qualifying individual, such as daycare or after-school care expenses.

Q: How can I claim the Working Family Household and Dependent Care Credit?
A: To claim the credit, taxpayers must complete Form 150-101-197 and include it with their Oregon state tax return.

Q: Is the Working Family Household and Dependent Care Credit refundable?
A: No, the credit is not refundable. It can only be used to offset Oregon state tax liability.

Q: Are there any income limits for claiming the credit?
A: Yes, there are income limits for claiming the credit. The limits vary depending on the taxpayer's filing status.

Q: Can I claim the credit for expenses incurred in a prior year?
A: Yes, Form 150-101-197 is used to calculate the credit for prior year expenses.

Q: Are there any restrictions on who can provide the dependent care?
A: Yes, the care must be provided by someone other than the taxpayer or their spouse. There are also restrictions on care provided by certain relatives and household members.