A couple of days ago I got some alarming information. As of now there is a $10,000 tax credit for families/individuals who adopt. In January of 2010 that tax credit will expire unless something is done to stop it. Most adoption agencies (with the exception of LDS family services) charge upwards of $20,000 for an adoption. LDS family services charges 10% of your combined income with a minimum of $4,000 and a maximum of $10,000. This tax credit has always ensured families that there would be help in offsetting the costs associated with adoption.
As of now there is a bill that will stop this tax credit from expiring. It is the Adoption Tax Relief Guarantee Act of 2009, H.R. 213. When I researched it there was only 96 representatives who were signed on in support of the bill.
We need help in generating awareness and support from our local and state leaders. This not only hurts me and Dallan but countless other families nationwide. With all that is happening with health care reform and the economic crisis we are in, I am afraid this issue will fall by the wayside.
Please contact your state leaders asking them to support the Adoption Tax Relief Guarantee Act of 2009, H.R. 213! Thanks for helping to spread the word!
Wednesday, August 12, 2009
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3 comments:
thanks for the info!
Hi Mandee,
Thanks for making me aware about what is going on. This could really affect us because we are hoping to adopt two more kids in the future. Also, I wanted to share our happy news w/ you--we finalized Andrew's adoption today! It was a very sweet experience. You and your beautiful family have been a source of inspiration to me. So thank you.
Karen that is such great news! I NEED to see some pictures! I tried checking out your blog but am not on the list:(! When are you guys set to go to the temple? GIVE ME DETAILS WHEN YOU GET A CHANCE!
We love and miss you guys!
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