Adoption Tax Credit
Anyone who finalized their adoption in 2005, be sure to claim the Federal Adoption Tax Credit. It reduces your taxes by almost $11K. If you adopted a special needs child (most from foster care are for this purpose) you get the credit even if you had not adoption expenses. In our case we paid over $11K in payroll withholdings, so we'll get and $11k refund - yippee! If you paid less than $11K in 2005, you can carry the credit over to next year.
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Proud Mommy of one daughter through the miracle of birth and one through the miracle of adoption. Children's book author and illustrator.
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