Family Support Act Of 1988
Definition of "Family support act of 1988"
Legislation that changed the tax treatment concerning child-care expenses so that an employee who has incurred child-care expenses greater than $4800 and who is participating in a company-sponsored dependent care assistance program is required to choose between the company plan and the child-care credit. The tax benefit gained by the employee from the child-care credit is reduced dollar for dollar to the extent that the company plan is used to cover child-care expenses.
Popular Insurance Terms
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Coverage for a group of individuals under one policy. Usually, members belong to a particular company, union, or trade association. In a contributory plan a lump sum premium is paid by the ...
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Combination of the funds of many policyholders held in a single account and invested as a single entity. ...
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