Rates Announced For 2017 Adoption Tax Credit
Rates Announced For 2017 Adoption Tax Credit
The IRS has announced the rates for the 2017 Adoption Tax Credit.
For taxable years beginning in 2017, under Section 23 (a) (3) the credit allowed for an adoption of a chld with special needs is $13,570.00. Â For taxable years beginning in 2017, under Section 23 (b) (1) the maximum credit allowed for other adoptions is the amount of qualified adoption expenses up to $13,570.00. Â The available adoption credit begins to phase out under Section 23 (b) (2) (A) for taxpayers with modified adjusted gross income in excess of $203,540.00 and is completely phased out for taxpayers with $243,540.00 or more.
About the Author: The Irving Law Firm - John Irving
John Irving brings a deep practical understanding of all aspects of the legal process to every case or client, thanks to his extensive and varied legal background. In 1997, John earned his bachelor's degree in criminal justice. Shortly after graduating, he began working as a fraud investigator for the City of New York. John handled thousands of cases related to welfare and housing fraud. He was later recruited and employed by the Prince William County Police Department, where he demonstrated superior skills and received several commendations and awards.
