November is National Adoption month and at Lambert Law, a Vancouver, WA family lawyer, we want to make you aware of bills that were introduced in Congress. These were written to make the adoption tax credit refundable.
These bills were introduced just before Memorial Day weekend, in the Senate and the House.
In the Senate, the Adoption Tax Refundability Act (S. 1056) was introduced by Senator Casey (D-PA), Senator Landrieu (D-LA), and Senator Blunt (R-MO). The House bill, H.R. 2144, was introduced by Representative Braley (D-IA).
The adoption tax credit was refundable in tax years 2010 and 2011, which meant that many more children and their adoptive families were able to take advantage of it. The Adoption Tax Credit Refundability Act would make the adoption tax credit a benefit to lower and moderate income families who cannot currently use it.
The credit was included in the bill to avert the fiscal cliff, which was signed on Jan. 2.
- The amount has not yet been confirmed, but the maximum for 2013 will be about $12,720.
- The credit will remain flat for special needs.
- The credit is not refundable for 2012 and beyond until these bills have been signed.
If you are considering adoption, know that we are closely following these efforts and can help inform you on the results of this effort.
At Lambert Law Office, we are prepared to help with adoptions. Crystal Lambert-Schroeder is not only a Vancouver, WA family lawyer, but she is also a mother. She is very sensitive to the needs of children and loves to see loving parents give a home to a child who needs them.
If you are thinking about adopting, contact Lambert Law Office. 360-737-1473. Or click here and see what other services are offered at the Vancouver, WA family attorney.