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2013 Adoption Tax Credit Update


Building Blocks Adoption Services just mass e-mailed this message so I am glad to pass it along!

"We have great news!! The adoption tax credit has been approved and made permanent. This means the credit will not expire. This is great news for all of you who are adopting as you will now be able to take the adoption tax credit whenever your adoptions finalize! All the details of the credit have not been provided as of yet. 

What we do know and have confirmed is: 

•The credit for 2013 is set at a minimum of $10,000 per child. This amount may raise for cost of living and economic growth. Additional updates will 
  be provided once information on the credit itself is received 
•The credit is available for special needs, international and domestic adoptions 
•The credit is NOT refundable, the credit will be applied towards your tax liability, you must pay taxes to claim the credit. 

Additional terms will be shared once received. For now ….congratulations!"  (end message)

 There is a group on Facebook called "Save the Adoption Tax Credit."  Like them and keep updated on information as it comes out.  I'm still a bit apprehensive but hoping this news will be confirmed and can apply to our adoption. 
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