Wednesday, March 24, 2010

Adoption Tax Credit and the HCR Bill

Good news for adoptive families from the health care bill signed into law. The adoption tax credit has been extended until the end of 2011 and increased from $12,170 to $13,170 for adoptions occurring after January 1, 2010 (it’s retroactive). The credit is also now refundable.

You can read the bills text on page 903 of 906 here.
“Taxpayers who adopt children:  Effective in 2010, the bill makes the adoption credit refundable, increases the credit by $1,000 and extends the increased adoption credit through 2011."

I'm still not 'for' the HCR Bill, but at least it does not take away the tax credit that has been in place for several years.       Now, let's pray and hope that people still can and want to adopt, when so many are without jobs, being forced to purchase healthcare, and provide it for anyone and everyone, as well as losing their homes...

We found out today that our taxes will increase quite a few percentage in the next two-three years and then after that our new tax percentage will increase between 10 - 15 percent to pay for the HRC. Sorry to all those who support the HRC, but we don't want to pay for everyone else's healthcare (the country's). Do we really live in a democracy...

Love ~


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