Friday, March 26, 2010

Tax credit extended: Could it be true?

Adoption Learning Partners just sent out an announcement about the adoption tax credit. They are reporting that on page 903 of the new health care bill, the adoption tax credit was extended until 2011. It was also increased to $13,150 and is now a refundable credit. In order to get the credit, the family would need to complete the child's adoption before 2011.

I used the adoption tax credit to off-set Jacob's adoption in 2007. The tax credit was set to sunset this year meaning that family's adopting after Dec. 31 would not have gotten the credit and adoption may not have been possible for them. Now that is not a concern until at least the end of 2011. That means more families will know the miracle of adoption and more children will find forever families.

No matter how you feel about the health care legislation, this part of the bill is a very good thing. Many families will be formed and many more will be helped by extending the adoption tax credit. While we will need to take action to extend it again next year, today we can celebrate this victory.

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