President Barack Obama has signed a tax relief bill into law that includes a provision extending the adoption tax credit through December 2012. This means that parents who finalize an adoption in 2011 or 2012 may claim a maximum credit of $13,360 per adoption for adoption-related expenses (credit may be subject to income limitations). If a family’s qualified expenses (i.e., adoption fees, legal fees, travel costs, etc.) exceed its tax liability, the family is eligible to receive the difference in the form of a tax refund.
For more information regarding how a tax credit may help you adopt this year, please contact Adoptive Families for Children by calling (603) 228-6712, toll-free at (800) 940-4456, or by e-mailing email@example.com.