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Archive for the ‘Adoption’ Category.

Adoptive parents: Don’t forget about the Adoption Tax Credit

The IRS explains In Tax Tip 2024-26 to parents of adopted children in 2023 they may qualify for the adoption credit. That the credit can be applied to international, domestic, private and public foster care adoptions. Taxpayers who adopted or started the adoption process in 2023 may quali...

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The adoption tax credit helps families with adoption-related expenses

The IRS explains In Tax Tip 2023-06 to parents of adopted children that taxpayers who adopted or started the adoption process during 2022 should review the rules around the adoption credit and the amount of the credit increases for qualified taxpayers. The adoption tax credit lets familie...

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Parents who adopt can benefit from this valuable tax credit

The IRS explains to parents of adopted children that taxpayers who adopted or started the adoption process during 2019 should review the rules around the adoption credit and the amount of the credit increases for qualified taxpayers, the rules remain the same. Taxpayers who adopted or sta...

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