Tuesday, March 23, 2010

Thank You Mr. President!

I didn't know about this until today, but...

The Adoption Tax Credit has been increased and extended in the new Health Care Reform bill that President Obama has signed today. The Adoption Tax Credit will be increased by $1,000 retroactive to January 1, 2009 (from $12,150 to $13,150 in 2009 and from $12,170 to $13,170 in 2010) and it has been extended to December 31, 2011.

Think I'll use the extra dough to buy some tea bags...

This is great news for adoptive parents.

14 comments:

Jon said...

I saw that too but didn't see anything about it being retroactive to 2009, do you have a link?
Cheers

Bobby said...

Hmm. I'm wondering if my adoption agency got it wrong. In searching the net, I can only find language stating retroactive to January 1, 2010. I'll have to keep looking. Thanks for the heads up Jon.

Malea said...

They aren't going to screw us yet again.Hurray!

Bobby said...

Jon

Here is the link to our agency's announcement, but I can't find much else to fully support it.

http://adoptionhelp.org/blog/2010/adoption-tax-credit-increased-and-extended/

growfamilygrow said...

Oh yeah! This is very good news. Hope it is backdated for you guys too.

mommy3 said...

It's based on finalization date, which yours was in 2010, right? I do think it's 2010, January, though. 2009 was the former credit, but still there, I think. hmmmmm.

mommy3 said...

I just reread the IAC site and it's pretty clear about '09. Time to verify with them! I couldn't find another online source, either, Bobby (and I wanted to!).

2momswithaplan said...

That is awesome!

More tea bags and a trip to Orlando Florida!

Mike and Mike said...

Does anyone know if that applies to co-parent adoptions or just adoptions through an agency? I suppose I can set my accountant on it.

mommy3 said...

Found out (yippeee!) that the law was just signed yesterday and that the info we have from our agency is accurate. So glad for waiting families! Tried to convince my husband that we could adopt again (sort of tongue-in-cheek and mostly for real) and he's not buying it. Reminded me that $13K is just for starters, ha.

Jason, as himself said...

It is nice to have some good news once in a while!

That adoption credit really helped us out, a lot.

Eva said...

Thanks for this. I will cross post this with at my blog.

Michelle said...

I got an email about this...awesome.

I got the package on Saturday morning! Its great! We love everything in it, so please tell your co worker how much we appreciate it. Caden is actually wearing an outfit from it right now since it was so close with reach at 6 am this morning...lol. And Thank You for the gift from you,Gregg,and Sabrina.
I have something awesome I want to send you. I will let you know when it's on its way. ;0)

mommy3 said...

Another update that the adoption tax credit is retro but only to Jan 1 '10, darn it!