I know many of you are saying NO our taxes are due. But many families are excited about tax refunds this year. One of the benefits of adopting is the tax benefits. It is hard to believe but Uncle Sam supports adoption. To help with the cost of adoption the IRS has a tax refund. If you adopted in the year 2010 you should receive a refund of $13,170 per child up to the cost of your adoption. This is the first year that the tax benefit has been a refund, in the past it has been a tax credit. This drastically helps reduce the burden of adoption to many families. It means you must provide this money up front to pay for your fees, but some of it will be reimbursed when you file your taxes the following year. There are also some states that offer a state tax credit, unfortunately Tennessee does not.
I have had numerous people tell me in the past that they would love to adopt but just can't afford too. The truth is you can't afford it, you are right. But, God can. I believe the adoption tax refund is one of God's many ways of providing for us that are called to be adoptive parents.
So to those of you writing a big check right now, just think you could be helping bring a baby home.