Friday, March 15, 2013

good news for adopting families!

 

 

Check out our blog!!!   http://capeanndss.blogspot.com/

 

Carla King

Foster Parent Recruiter

Department of Children and Families (formerly known as Dept Social Services)

Cape Ann Area Office

45 Congress Street, bldg #4

Salem, MA 01970

978-825-3862   direct DCF ext 33862

 

 

 

 

 

 

 

 

 

Congress Makes Adoption Tax Credit Permanent

 

The Adoption Tax Credit that was set to expire at the end of 2012 is now a permanent credit. The tax credit allows adoptive parents of children from foster care to reduce their federal income taxes. In the case of an adoption of a U.S. child that a State has determined has special needs, adoptive parents may be eligible for the maximum amount of credit even if they paid no qualified adoption expenses.

What the Adoption Tax Credit Means

An adoptive family can apply this credit toward their federal tax liability, meaning it can reduce what they owe in federal income taxes for the year. Most adoptions from U.S. foster care qualify for the maximum amount of the credit even if no qualified adoption expenses occurred, such as necessary adoption fees, court costs, attorney fees, traveling expenses (including meals and lodging while away from home), and other expenses directly related to the legal adoption of an eligible child. If the State or County provides adoption assistance, that is proof that the child was determined to be special needs.

The Internal Revenue Service (IRS) has more information and required forms for claiming the adoption tax credit:  irs.gov/taxtopics/tc607.html 

You can also find more information about the Adoption Tax Credit on the following websites:

 

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