We're making a change - our weekly news round-ups will now be on Fridays. Instead, today I'd like to highlight information and resources about the Adoption Tax Credit available to families that adopt.
As the end of 2011 fast approaches, adoptive parents may not be aware of the adoption tax credit they are eligible to claim if they finalized an adoption during the year. According to the IRS adoptive parents who finalize an adoption in 2011 may be eligible to claim up to $13,170 for qualified expenses [for more detailed information, click here]. The IRS also provides several resource guides including an Adoption Tax Credit FAQ and an instruction guide available as a downloadable pdf here.
For families that adopted prior to 2011, the tax credit policies have changed. The North American Council on Adoptable Children offers helpful guides for adoptive parents and professionals and they can be found on their website here.