Tag Archives: Adoption

Expanded Adoption Tax Credit Still Available for Extension Filers

Courtesy of the Internal Revenue Service If you adopted a child last year and requested an extension of time to file your 2011 taxes, you may be able to claim the expanded adoption credit on your federal tax return. The Affordable Care Act temporarily increased the amount of the credit and made it refundable, which […]

Adoption

Today TaxMama® hears from Hilde in the TaxQuips Forum with this question. “My son and daughter-in-law just adopted a special needs child from China. We know that there was a tax credit avail last year. Is there a tax credit for 2012? If yes, how much is the credit for? Some of the expenses were […]

Stepchild in Divorce

Today TaxMama® hears from Susan in the TaxQuips Forum with a divorce question for Valentine’s Day. “What happens, taxwise, to the relationship of stepchildren when the parents divorce and the stepchild stays with the stepparent? Do they go back to just being the girlfriend’s kid again? I hear about stepparents adopting their spouse’s children. Is […]

Adopting Step-Child

Today TaxMama hears from Kelly in the TaxQuips Forum who is doing something unusual. “I tried to claim the adoption credit on this year’s taxes.  It was denied because “I can not use this credit for the adoption of a step-child”.  After my divorce was final, I began adoption proceedings for my son. They were […]

Six Things to Know About the Expanded Adoption Tax Credit

Courtesy of IRS If you are adopting a child in 2011, the Internal Revenue Service encourages you to familiarize yourself with the adoption tax credit. The Affordable Care Act increased the amount of the credit and made it refundable, which means it can increase the amount of your refund.

Adopting Two Girls

Today TaxMama hears from Charlotte in the TaxQuips forum, who tells us. “We adopted my niece’s 2 children this year. But my husband’s Social Security income wasn’t taxed. So how do I get the child income tax credit? or can I? I don’t work.”

IRS News – Is this Income Taxable?

While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. To ensure taxpayers are familiar with the difference between taxable and non-taxable income, the Internal Revenue Service offers these common examples of items that are not included in your […]