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An Act of Love Adoptions Notifies Families About Congressional Vote to Extend Adoption Tax Credit
Date:1/28/2013

Salt Lake City, UT (PRWEB) January 28, 2013

The adoption community is elated about the recent passing of the American Taxpayer Relief Act. The bill was signed into law on January 2, 2013. With President Obama’s signature, the provision permanently extends the adoption tax credit, which was instituted during the Bush administration.

The new law permanently extends the Bush-era enhancements for special needs adoption and non-special needs adoption, while allowing an adoption credit and income exclusion for reimbursed adoption expenses or employer-paid expenses up to $10,000.00.

A family whose income is less than $150,000 will receive the full credit and the credit will be phased out for those in higher income brackets. The current projected limit for 2013 will be $12,770. With the adoption credit now firmly in place, many adoptive families can take advantage of this tax credit making it much less of a financial burden for families who choose to provide loving, permanent homes for children.

The adoption process can be a long, drawn out procedure with many expenses such as attorney’s fees, adoption agency fees, medical expenses and court costs, among others. These types of large expenses can sometimes prevent families from adopting.

According to Megan Lindsey of the National Council for Adoption, “Congress is to be commended for remembering children and families as a priority. The adoption tax credit is an important layer of support for families who adopt. The credit helps ensure children find their way to safe, stable, loving, and permanent families.”

Megan Lindsey went on to say that everyone was grateful to Congress, the Obama administration, and the many advocates who supported the Sa
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