IRS Adoption Tax Credit for 2010

The IRS has issued new information on the adoption tax credit for 2010. An encouraging change is that

"The Affordable Care Act raises the maximum adoption credit to $13,170 per child, up from $12,150 in 2009. It also makes the credit refundable, meaning that eligible taxpayers can get it even if they owe no tax for that year. In general, the credit is based on the reasonable and necessary expenses related to a legal adoption, including adoption fees, court costs, attorney’s fees and travel expenses. Income limits and other special rules apply."

We are so thankful for this change. You can learn more at


http://www.irs.gov/newsroom/article/0,,id=228301,00.html

Comments