Adoption Tax Credit Awareness Day
All parts of the adoption community including state agencies, child welfare programs, private child placing agencies, adoptive families, etc. are asked to take part in the first grassroots Adoption Tax Credit Awareness Day. Unfortunately, many adoptive families are still not aware that this tax credit exists. It is our goal to ensure all adoptive families who are eligible to receive this benefit are informed about how to claim the credit. Please help distribute information to adoptive families about the availability of this refundable tax credit. This tax credit is a benefit available to adoptive families including those families who adopted a child with special needs through a state agency. The credit is a potential resource to families who adopted children back as far as 2005 - especially if they were not able to take full advantage of the tax credit in those years, as the unused balance may still be refundable to families who had unused credit in 2010.
All families who completed adoptions in 2011 should be made aware of this refundable tax credit, which this year is set for $13,360.00 per child. Because many of the families that completed adoptions were relatives, they may not have been made aware of this tax credit.
Families that adopted children with special needs do not have to have qualified adoption expenses in order to claim the credit. If adoptive families have questions about this tax credit, they should contact their tax preparer.