Good news for families adopting and hoping to take advantage of the Federal Adoption Tax Credit – the sunset provision in the current legislation has been delayed by one year to the end of 2011, and the credit has been increased to $13,170 for adoptions completed this year or next year. The extension was included as an amendment to the health care reform bill (read it here on pages 903-906). It is not clear to me what it means when it says the credit is refundable. As always, check with your tax advisor regarding any questions you may have about the adoption tax credit.
Thank you to Abba Fund’s Facebook page for bringing this news to my attention.