Good news for adoptive families from the health care bill signed into law. The adoption tax credit has been extended until the end of 2011 and increased from $12,170 to $13,170 for adoptions occurring after January 1, 2010 (it’s retroactive). The credit is also now refundable.
You can read the bills text on page 903 of 906 here.
USA Today’s brief analysis:
“Taxpayers who adopt children: Effective in 2010, the bill makes the adoption credit refundable, increases the credit by $1,000 and extends the increased adoption credit through 2011.”
Tuesday, March 23, 2010
Adoption and Health Care Reform
Here is a good thing about health care reform from Jason Kovacs:
Subscribe to:
Post Comments (Atom)
1 comment:
Tax credits are a way for someone in Washington D.C. to influence individual behavior. They are bad no matter what they're for.
A certain level of tax needs to be raised to fund the budget. When one act is given a "tax credit", the decrease in funds must be made up somewhere else. Thus, tax credits force one group of people not participating in an activity to fund the activity of others.
If someone believes in adoption, that's one of the coolest things they can do. What they should not do is ask others to pay for it.
Post a Comment