Adoption Tax Credit has been extended and increased.
•The current adoption tax credit has been extended until the end of 2011;
•The value of the adoption tax credit has been increased from $12,170 to $13,170.
•The increase is “retroactive,” meaning that any adoption occurring after January 1, 2010 is eligible for this higher credit.
•The credit is now refundable. This means that even families that owe zero taxes can receive the full tax credit in the form of a tax refund to help with their adoption-related expenses.
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