Thursday, June 21, 2012

Adoption Tax Credit Advocacy | Faith International Adoptions

What is the adoption tax credit?
The adoption tax credit, which can be claimed for eligible adoption- related expenses, has helped thousands of American families offset the high cost of adoption since the credit was established in 1997. Since 2003, families that adopted children with special needs could claim the full credit regardless of their qualified adoption expenses. The credit has made adoption a more viable option for many parents who might not otherwise have been able to afford adoption, allowing them to provide children?with loving, permanent families. With more than 100,000 children in U.S. foster care available for adoption, and countless millions of orphaned and abandoned children around the world, the continuation of the adoption tax credit is vital to providing love, safety, and permanency to as many children as possible.

Adoption Tax Credit Priorities

  • Inclusive: Children, whether adopted from foster care, through intercountry adoption, or through private domestic adoption, should be able to benefit from the adoption tax credit.
  • Permanent: The adoption tax credit should become a permanent part of the tax code to ensure continued support to those who bring children into families through adoption.
  • Refundable: The adoption tax credit should be refundable, to ensure that families with moderate and lower incomes receive the full benefit of the credit.
  • Flat for Special Needs: All families who adopt a child with special needs should be eligible for a ?flat? tax credit, meaning they can claim the maximum credit without documenting expenses. This distinction, which is already in current law, recognizes the?fact that many of the expenses associated with adopting children with special needs show up after an adoption is finalized.

Helpful Advocacy Tips

  • Be clear and concise: Meeting or call time is often limited. Plan what you want to say in advance so you are able to provide all the information you want to share.
  • Leave information: Leave behind a summary of your concerns and recommendations; include contact information.
  • Follow up: Send an email, card, or letter thanking the person you met with. Respond to any questions they had and provide any helpful resources.
  • Be kind: Even if the people you speak with seem uninterested or disagree with you, be kind. They may be of help in the future or less likely to oppose your concern.

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