Although the IRS released some guidance last year on applying for the Adoption Tax Credit, many family have still faced challenges in receiving the credit. Personally, I recently went through a somewhat time consuming process of having to provide additional documentation to the IRS to prove that we were, in fact, owed the credit. So it is good news that the IRS has recently provided additional guidance. It won’t smooth all the challenges, but should make things a little clearer for families and accountants:
IRS: 6 Things to Know About the Expanded Adoption Tax Credit—In the recent IRS Summertime Tax Tip the Internal Revenue Service featured six pointers adoptive parents need to know about claiming the Adoption Tax Credit. Confusion remains about the details of the adoption tax credit and additional families that are still unaware that the credit exists at all. Please share this resource widely. To access this information visit here.