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 […]
Tag Archives: Adoption tax credit
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 […]
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 […]
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.
Courtesy of the IRS Many parents and college students will be able to offset the cost of college over the next two years under the new American Opportunity Tax Credit. This tax credit is part of the American Recovery and Reinvestment Act of 2009. Here are six important facts the IRS wants you to know […]