Adoption Tax Credit
Today, America World learned that Congress voted to
permanently extend the adoption tax credit as part of the American Taxpayer
Relief Act. While complete details remain to be seen, the following information
is known. First, we know that the bill permanently extends the adoption tax
credit at $10,000. However, it is possible that the credit may once again be
scaled for inflation, which would bring it near the 2012 amount of $12,650.
Finally, families with incomes below $150,000 will receive the full credit, and
it will gradually phase out for higher incomes (the amount of the reduction and
associated income levels remains to be seen).
We will keep you up to date as more details are learned.