Do you support the Adoption Tax Credit? November is the month to show your support! As many families know, the Adoption Tax Credit has been a huge help in making adoption affordable in past years. In 2010-2011, the Adoption Tax Credit involved a refundable credit up to $13,360 for qualified families with finalized adoptions, whether those adoptions were domestic or international. In 2012, the credit was reduced to $12,650, and was no longer a refundable credit. If no changes are made for adoptions finalized in 2013, the credit will again be reduced to $6,000 and will only apply to families with domestic adoptions of children with special needs.
There are bills going before both the House (HR 4373) and the Senate (S 3616) to make the Adoption Tax Credit permanent and refundable for both international and domestic adoptions. It is likely that these bills will be considered by Congress after the November election.
How can you help?
- Do your research! Websites like Adoption Tax Credit and National Council for Adoption help explain what the tax credit is, who it helps, and how you can advocate for the credit with your local representatives.
- Talk about it! Like Save the Adoption Tax Credit on Facebook, and ask your friends and family members to do the same. Let others know how important the credit can be, financially, in the adoption of a child.
- Consider contacting your Members of Congress. The National Council for Adoption provides an advocacy kit to help you know what to do and say. The more support we show, the better chance there is for the Adoption Tax Credit to become a permanent option for adoptive families.