Adoption Credit

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Adoption Credit

In U.S. tax law, a direct dollar-for-dollar reduction in one's tax liability for each child under the age of 18 that a taxpayer adopts. The adoption credit is intended to reimburse the taxpayer for attorney's fees, court costs, and traveling expenses. The credit is non-refundable, but if the amount of the credit exceeds one's tax liability, it may be carried forward for up to five years. The maximum amount of the adoption credit is adjusted for inflation. See also: Carryforward.

Adoption Credit

A nonrefundable credit for qualified adoption expenses incurred for each eligible child. The limit on the credit is indexed to inflation. For current figures, see our Adoption Assistance rate table. The limit is a per-child limit, not an annual limit. Any unused credit can be carried forward for five years or until used. For special needs children the full credit is allowed, regardless of the amount of actual expenses.
References in periodicals archive ?
Gladney's auxiliary network educates the general public about the merits of adoption, provides support for one another through the adoption process and raises funds on Gladney's behalf.
He said DCFS has made the adoption process easier for families and has reduced the length of time it takes to adopt a child.
The Hamilton Children's Aid Society which supported the Squamish Nations claims also dropped their opposition and will facilitate the adoption process.
Newcastle City Council's Adoption Unit event is being held to give people a chance to find out more about adoption and what is involved in the adoption process.
The Adoption Toolkit information pack was produced by Brenda Vincent, team manager for the county fostering and adoption team, and contains all the documents needed to complete the adoption process.
Perception or experience of the adoption process is another factor that might potentially influence people's desire to become adoptive parents.
The unprecedented devastation has turned the adoption process upside down, where it could take years before these children could have any legal status," said Democratic Sen.
One such theory that has not been widely used in alcohol and drug education but holds promise is the Precaution Adoption Process Model (PAPM).
Human rights lawyer Justin Dzonzi said the decision could halt the adoption process.
The orientation is offered by the nonprofit Children's Bureau, which will provide training, certification, funding and support during the adoption process.
She also defended herself against claims that she used her celebrity status to speed up the adoption process, saying there were no adoption laws in the country.

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