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.