One of the things that Shawn and I considered when thinking about adoption is the adoption tax credit. During our initial adoption research we ran across information about the Making Adoption Affordable Act, introduced by Rep. Bruce Braley (D-IA) on April 17, 2012.
Come to find out, the adoption tax credit of $12,650 is set to expire on December 31, 2012. This is not great news for us. We hope we'll be able to adopt before the end of the year, but in reality, it may not happen for awhile. The tax credit will diminish in 2013 to $6,000 for authorized expenses for special needs adoption only. The Making Adoption Affordable Act would set the credit at $13,360 and make it refundable and permanent.
If you're interested in advocating for the Making Adoption Affordable Act, you can join Save the Adoption Tax Credit on Facebook or at their website. You can ask your Representative to co-sponsor HR 4373 or contact your Senator and ask them to support a tax credit that is refundable and permanent.
1 comment:
Thanks for posting this, Kristin. Just joined over on Facebook.
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