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Adoption Tax Credit

FEDERAL ADOPTION TAX CREDIT INFORMATION The 2014 version of the Internal Revenue Service (IRS) Qualified Adoption Expenses (Form 8839) has been released. Additionally, the updated instructions for this form have also been released. Form 8839 is used by taxpayers to claim the adoption tax credit, an exclusion for employer-provided adoption benefits, or both. The changes […]

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Adoption Tax Credits

Congress passed the adoption tax credit as part of the George W. Bush tax cuts. The adoption tax credit was extended to December 31, 2011, and then extended again to December 31, 2012. It is due to expire on December 31, 2012, unless it is again extended by Congress. The two leading adoption organizations in […]

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Adoption Tax Credit Permanently Extended!

Today, the President will sign H.R. 8, “American Tax Payer Relief Act of 2012”, which will make the Adoption Tax Credit, first enacted as part of the “Bush Tax Cuts”, permanent. In 2013, families earning less than $194,580 can claim a tax credit of up to $12,970. Some portion of the credit is available for […]

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