For families who will adopt in 2021 we still have the Adoption Tax Credit.
The IRS released Revenue Procedure 2019-44 in January, 2020, listing the Adoption Tax Credit adjusted numbers for 2020. The maximum amount allowed was set at $14,300 per child for 2020 (it was $14,080 in 2019). The tax credit starts to phase out for families with modified adjusted gross income in excess of $214,520, and is completely phased out for families with modified adjusted gross income of $254,520 or more.
The complete IRS publication can be found here.
To make an appointment for a consultation
or get more information about adoption,
please call 603 673-8323 or contact us online.
