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Unless your adjusted gross income is over 155,000 you should qualify for the tax credit. The total costs for adopting from China is an average of around $18-22,000, so even for those fortunate enough to have a nice adoption reimbursement from your employer, you should still get some credit back from the IRS.
The tax credit is $10,300, and it's subtracted from your tax liability by the IRS, for the year of the adoption being finalized. In other words, if your normal tax liabilty is $12,000, and you've paid $9,000 into the federal taxes with your paychecks by the end of the tax year, then you would get back $7,000. ($12,000 owed, minus $10,000 would mean $2,000 total tax liability, so you would get back all but $2,000).
If your tax liability is normally less than $10,000, then the tax credit would balance the liability out to zero, and the remainder could be carried over till the next year, up to a total of five years.
It's a fairly generous tax cut, considering that the feds really don't have to do it.
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Karen
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11/25/04 Decision to adopt our first daughter
03/14/05 LID for our first daughter
01/29/06 Referral for our first daughter
(total time from LID to referral-10.5 months)
03/20/06 Our first daughter in our arms
12/12/06 Decision to adopt again
04/14/07 LID for our second daughter
04/14/08 ONE year waiting
09/1/08 Re-submitted paperwork before it expired
04/14/09 TWO years waiting
04/27/09 Out of review room 
06/14/09 Fingerprinted again, before they expired
Still waiting...
How long is forever? -381 LIDs till our referral- That's how long forever is!
We've been waiting 31 months since our Log-In-Date with China
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