New Adoption Tax Credit/Refund!!!

Yesterday, Paul and I read wonderful news.It’s spreading like wildfire through the adoption community.

“Specifically, the provisions contained in the health care bill include:

  • The current adoption tax credit has been extended until the end of 2011;
  • The value of the adoption tax credit has been increased from $12,170 to $13,170.
  • The increase is “retroactive,” meaning that any adoption occurring after January 1, 2010 is eligible for this higher credit.
  • The credit is now refundable. This means that even families that owe zero taxes can receive the full tax credit in the form of a tax refund to help with their adoption-related expenses.
  • The full text of the amended language begins on page 903 of the Health Care Reform Bill (PDF).”

    So this means that instead of just a credit, we can actually get money refunded for the adoption! This is such amazing news for our family we’re so thankful.

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