Friday, April 2, 2010

Good News on Taxes - REALLY!

Good news for adoptive families on the health care bill signed into law in March. Included in the changes were favorable changes to the Adoption Tax Credit. The Joint Council for International Children's Services summarize the changes as follows:

  • Maximum credit was increased from $12,150 to $13,170

  • The credit is extended through December 2011

  • The credit was made refundable. If a family has no tax liability, the IRS will refund the amount due.

To read the bill's text, look at www.opencongress.org/house_reconciliation

1 comment:

  1. what do you mean by refundable? We have been using the adoption tax credit for 5 years now. but only get a couple thousand back per year. Does this mean we can get more back at once?

    ReplyDelete