The Facts:
The adoption tax credit provides financial benefits to families that open their
homes to children through adoption from foster care, intercountry adoption, or
private domestic adoption. The adoption tax credit, with a maximum of $12,650 in
2012, has helped to offset the high cost of adoption for hundreds of thousands
of families since it was established in 1997. The IRS estimates that the credit
benefited 96,949 children and their families in 2010. With more than 100,000
children in U.S. foster care available for adoption and countless millions of orphans
and abandoned children around the world, the continuation of the adoption tax
credit is vital to providing love, safety, and permanency through adoption to
as many children as possible.
The Need:
The current adoption tax credit is set to expire on December 31, 2012. If that
happens, adoption may require a cost insurmountable for many American families,
resulting in fewer children finding love and permanency through adoption.
Although the credit remains through 2012, many families will not benefit because
it is not refundable. In 2013, the credit will decrease to only $6,000 and will
be available to very few adoptive families.
Congress must act now to pass legislation that will protect and extend the
adoption tax credit and
encourage the right of every child to grow up safe and loved in a family of
their own.
A sample letter that can be sent to your state's senator can be found here on page 6. Please help save the Adoption Tax Credit.
A regularly updated list of relevant pending legislation is available at: www.adoptioncouncil.org/ policy-priorities/adoption-tax-credit.html
or www.adoptiontaxcredit.org/legislation.
The above info has been quoted directly from the National Council for Adoption website
Wednesday, May 30, 2012
Tuesday, May 15, 2012
Monday, May 7, 2012
Thursday, May 3, 2012
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