Refundable Adoption Tax Credit

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Refundable Adoption Tax Credit

With the election over, Congress is heading into a lame-duck session this week and is likely to consider a year-end spending package by December. This year-end package typically includes many additional provisions, especially related to tax policy.

Now is the time for Congress to advance legislation to restore refundability to the Adoption Tax Credit, and Congress needs to hear from advocates NOW.

President Biden has issued a Proclamation and called upon Congress to make the adoption tax credit refundable and to extending the adoption tax credit to legal guardianships — including grandparents, aunts, uncles, and other relatives – who are filling the roll of parent for children.

What is refundability? Refundable tax credits are called “refundable” because if you qualify for a refundable credit and the amount of the credit is larger than the tax you owe, you will receive a refund for the difference. For example, if you owed $800 in taxes and qualify for a $1,000 refundable credit, you would receive a $200 refund.

Please take action now by sending messages to your Senators and Representatives.

Be sure to include your name and address so that offices know you are a constituent.

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The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country, or other appropriate licensing jurisdiction.

Mills Adoption Law
4600 Marriott Dr, Ste 350
Raleigh, NC 27612
(919) 306-2899

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