Adoption Tax Credit Changes
The adoption tax credit is going through some changes. The maximum tax credit will be $12,170 through the year 2010. However, after this year the credit will be dropping to $5,000 for a healthy child and $6,000 for a special needs child. In order to qualify for the 2010 credit, your adoption must be finalized in the year 2010. Families who have questions on the tax credit should contact their tax advisor as America World is unable to provide tax advice. Families are also welcome to contact their representative and ask them to work to increase the tax credit for 2011 and the years to follow as it is a very important resource for many families. You can find your representative’s contact information at https://writerep.house.gov/writerep/welcome.shtml.