New Blog Site

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From this point forward please access our blog at:

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Adoption Tax Credit Scrutinized by IRS

The IRS appears to be scrutinizing adoption tax credit claims more vigorously this year, perhaps because the credit was refundable for the first time in 2010. Several former clients have called our office to let us know they are being audited, some because of tax credits they applied for more than 5 years ago. CNN Money has an article about the tax credit and the IRS' treatment of it here. The Federal Adoption Tax Credit helps many families afford the high costs of adoption and also motivates families to adopt special needs children, as the entire credit may be claimed for a special needs child even if no costs were involved.

** This post is not meant to constitute tax advice. For advice about the Federal Adoption Tax Credit please talk to a certified public accountant.