We got this email from our homestudy agency, which got it from an email from Joint Council of International Adoptions.
The adoption tax credit has been extended through December 31, 2012.
The refundability of the adoption tax credit will remain in effect for 2011.
The refundability expires on December 31, 2011 and will not be available for 2012.
Not sure what the refundability part is, but the tax credit extending is good.
Unless you OWE money to the government in 2012 you get NOTHING back as far as the tax credit. I will be writing my congressmen and senators on this one! That is ridiculous!
A Year of Change
2 years ago
The refundability is an important aspect. It means that you can get money back. When they take it away, you will only get credit up to the amount of tax that you owe, nothing more.
ReplyDeleteI was excited to see the tax credit was extended! Have a Merry Christmas!
ReplyDelete