Salt Lake City, UT (PRWEB) January 28, 2013
The adoption community is elated about the recent passing of the American Taxpayer Relief Act. The bill was signed into law on January 2, 2013. With President Obama’s signature, the provision permanently extends the adoption tax credit, which was instituted during the Bush administration.
The new law permanently extends the Bush-era enhancements for special needs adoption and non-special needs adoption, while allowing an adoption credit and income exclusion for reimbursed adoption expenses or employer-paid expenses up to $10,000.00.
A family whose income is less than $150,000 will receive the full credit and the credit will be phased out for those in higher income brackets. The current projected limit for 2013 will be $12,770. With the adoption credit now firmly in place, many adoptive families can take advantage of this tax credit making it much less of a financial burden for families who choose to provide loving, permanent homes for children.
The adoption process can be a long, drawn out procedure with many expenses such as attorney’s fees, adoption agency fees, medical expenses and court costs, among others. These types of large expenses can sometimes prevent families from adopting.
According to Megan Lindsey of the National Council for Adoption, “Congress is to be commended for remembering children and families as a priority. The adoption tax credit is an important layer of support for families who adopt. The credit helps ensure children find their way to safe, stable, loving, and permanent families.”
Megan Lindsey went on to say that everyone was grateful to Congress, the Obama administration, and the many advocates who supported the Save the Adoption Tax Credit effort. Because of their tireless efforts, the law was passed that will help to ensure that children who need good homes will be able to find them.
A Act of Love Adoption agency offers a number of services along with excellent support during the entire adoption procedure. Birth parents typically have access to many helpful programs, such as residential complexes to live in and living expenses. They also offer a range of services to families thinking about adopting a child. A Act of Love understands that the adoption process can be very stressful, and counselors and staff are on hand to help.
About A Act of Love Adoptions
A Act of Love was founded by Kathy Kunkel who adopted 8 of her 10 children in 1993. Act of Love started in Kathy’s home and has since grown to become one of the leading national adoption agencies in the country. The agency is known for its special treatment and attention given to birth mothers and adoptive families. Birth mothers enjoy special treatment from the caring staff and adoptive families normally do not have to wait as long to find their new addition to the family.