Adoption Tax Credit Updated for 2010
February 20, 2010
For the year 2010, the maximum adoption tax credit will be $12,170. The IRS updated this figure as part of their annual update for several inflation-indexed figures as released in Revenue Procedure 2009-50.
The adoption credit is scheduled to sunset at the end of the year 2010, and revert back to its pre-2001 dollar limit of $5,000, or $6,000 if a special needs child is adopted.
We will keep you posted on what actions can be taken to see that the tax credit does not sunset.
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Great information. Keep us posted.
Hello, I have been a blog follower of yours for a long time. My husband and I have five children, 3 bio, one adopted from US foster care, and one still in Haiti. I am in Haiti now and he has been cleared to leave and we are having some major trouble. It will probably make news headlines. Could you please e-mail me so I can tell you how to specifically pray and then you can spread the word around? I would really appreciate it!
Thank you,
Sarah