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