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Adoption Tax Credit increase
For 2008, the maximum adoption credit has increased to $11,650. The maximum exclusion from income for benefits under an employer's adoption assistance program has also increased to $11,650. These amounts are phased out if the modified adjusted gross income (MAGI) is between $174,730. and $214,730 or more.
For 2007, the maximum adoption credit is $11,390. The maximum exclusion from income for benefits under an employer's adoption assistance program is also $11,390. These amounts are phased out if the modified adjusted gross income (MAGI) is between $170,820. and $210,820.
To learn more, see the link to the IRS website under Links: Government Agencies.
RELEASED: December 01, 2006
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