$13,170 baby!!

I'm just so excited about the new Adoption Tax Credit!!

Good news for adoptive families from the health care bill just signed into law March, 2010.

The maximum credit was increased from $12,150 to $13,170. It gets even better as the credit was made refundable. If a family has no tax liability, the IRS will refund the whole amount at once.

In our adoption tax credit experiences, we have had to wait several years in a row to get money back. We were benefiting a little each year. Now, families get it all at once!! Sadly for us though, it only applies to tax years after 12/31/2009 (so 2010 and forward). But...IF we adopt again, we would get the whole chunk, baby.

For example, my brother and SIL should be traveling in the fall of this year. In April 2011, next year at this time, they will get $13,170. Woohoo for them!! For now, they are fundraising like crazy.