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 ?
Coun O'Boyle said: "The film was an incredibly powerful and moving documentary of the real stories behind adoption processes.
The author carefully examines factors that influenced the parents' decisions to adopt, the adoption processes themselves, and the positive and negative impacts.
Teachers should know how the roles of the state and federal governments have changed, how textbook adoption processes have evolved, and how standardized mathematics testing emerged.
This group will also start work on new adoption processes for Fault Tolerance for Minimum and Real-time CORBA systems, and a UML Profile for modeling of Real-Time, Embedded, and Specialized Systems.
Our customers can rely upon our commitment to deliver the high-quality SIMOX products they need in order to accelerate their SOI adoption processes.
Waskiewicz joins the OMG staff as Director of Standards, where he will manage all of the OMG's member-driven specification adoption processes and will take the leadership role as chair of both the Domain and Platform Technology Committees.