Adoption / Foster Care: What's Hot Now: Adoption Tax Credit

Adoption / Foster Care: What's Hot Now These articles that had the largest increase in popularity over the last week // via fulltextrssfeed.com

Adoption Tax Credit Jan 24th 2012, 11:04 Definition: An adoption tax credit, according to the IRS, is the amount of expenses paid out to adopt an eligible child, that is then subtracted from an adoptive parent's tax liability. These expenses are those spent the year prior to when the adoption is finalized. An adoptive parent may not claim the cost of a step-parent adoption or amounts reimbursed or paid for by an employer, government agency, or other organization. To learn more about the adoption tax credit, what qualifies as an adoption expense, and what defines an eligible child please see the Tax Planning GuideSite. Suggested Reading: How Has the Adoption Tax Credit Changed for 2010? How Has the Adoption Tax Credit Changed for 2011?" SOURCE: Adoption Credit - IRS.gov

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