Overland Park, KS (PRWEB) January 12, 2013
On January 2, 2013, the American Taxpayer Relief Act of 2012 was signed into law to avert the pending fiscal cliff. As part of the legislation, the adoption tax credit was permanently extended.
The adoption tax credit was set to expire on December 31, 2012, but because of the efforts of key legislatures, and the advocacy of the Adoption Tax Credit Working Group and countless others, thousands of adoptive families every year will continue to benefit from the tax credit.
American Adoptions joined the movement of the Adoption Tax Credit Working Group by writing letters and advocating to legislatures in the states they are licensed: Kansas, Missouri, Arkansas, Arizona and Florida.
Shawn Kane, Executive Director of American Adoptions, said the American Adoptions staff is relieved for adoptive families who were concerned that the tax credit would not be renewed.
“The adoption tax credit helps secure additional finances or relief that many adoptive families need when going through the adoption process,” Kane said. “Emotionally and financially, this is a very burdensome process for families, and anything that the state or federal governments can do to lessen the burden is really appreciated by us and families across the country.”
The maximum amount of the adoption tax credit is projected to be $12,720 and will be non-refundable.
American Adoptions is a full licensed not-for-profit domestic adoption agency that works across the country with adoptive couples and expectant women alike. Completing more than 300 domestic adoptions each year, American Adoptions is currently one of the largest domestic adoption agencies of its kind in the U.S.
For more information, call 1-800-ADOPTION or email adoptions (at) americanadoptions (dot) com.