What is the adoption tax credit?

Answer Individuals or couples may be entitled to a federal tax credit when adopting an eligible child. The Internal Revenue Service (IRS) adoption tax credit is an amount subtracted from your tax liabilit... Read More »

Top Q&A For: What is the adoption tax credit

Will two or more adoption financial assistance organizations work together on one adoption case so that all of the adoption costs are covered or is help limited to aid from one company per adoption?

No, you can only use one agency per adoption and I would recommend you do so.There are banks, however, that will work with the financial assistance organizations and can provide you low or no inter... Read More »

After adoption is there a credit?

Answer There is an adoption tax credit that was raised to $11,390 at the beginning of 2007 that applies to families with an adjusted gross income below $210,820.

Can I take the tax credit for domestic adoption expenses even if we never actually adopted?

The Internal Revenue Service allows any qualifying expenses directly related to attempts to legally adopt a United States citizen or resident, even if the adoption is never finalized. To claim the ... Read More »

Why can adoption be set aside if a divorce is filed less than one year after adoption by stepfather who adopted spouses children?

Your best approach is to involve a lawyer to make sure that you follow all the steps properly to do this.