The refundable adoption tax credit is set to expire at 12/31/11. Making this a refundable tax credit is one way the government has helped families afford a process that can be more than $40,000.
The adoption tax credit, which is as much as $13,170, offsets qualified adoption expenses making adoption possible for some families who could not otherwise afford it. Taxpayers who adopt a child in 2010 or 2011 may qualify if you adopted or attempted to adopt a child and paid qualified expenses relating to the adoption. If this credit goes away, middle working class families will have less resources to help them.
The Affordable Care Act increased the amount of the credit and made it refundable, which means it can increase the amount of your refund.
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