THE SEVENTH DIAMOND

Wednesday, April 18, 2007

Something to Applaud...Adoption Tax Credit Raised for 2007 in the US.

Great News! The Adoption Tax Credit Increased this Year in the US.





This is a post from Laura Christianson's Adoption Blog regarding the adoption tax credit.

Adoption Tax Credit Raised:Good news for those who are adopting or finalizing an adoption in 2007:The Federal Adoption Tax Credit limit is being increased to $11,390 for a child with special needs and the maximum credit allowed for other types of adoptions has also been raised to $11,390. You can exclude this tax credit from your gross income for qualifed adoption expenses paid or incurred by your employer under a qualified adoption assistance program in connection with your adoption of an eligible child.The credit begins to phase out if you have modified adjusted gross income of $170,820 or more and is completely phased out if you have modified adjusted gross income of $210,820 or more.Source: Internal Revenue Service

5 comments:

C.J. said...

More happy news!

Daniella said...

good news

Kayce said...

THAT is Great news!!!!!

Mardi said...

Great news!! Thanks for keeping us posted!

secret agent said...

woo hoo,
maybe it'll be up to a million by the time I go.
It really is good news, surely we'll use it wisely.