- Since 1996, the adoption tax credit has defrayed the cost of adoptions to many families that would find the cost of adopting prohibitive.
- Domestic adoptions cost $15,000 or more while international adoptions range from $20,000 – $30,000.
- The maximum adoption tax credit that may be claimed by income-eligible families is $12,150. The tax credit can only be claimed in the year that the adoption is finalized.
- The adoption tax credit is not a permanent part of the tax code. If it is not extended, it will expire on December 31, 2010.
- S. 2816 and H.R. 213 would ensure that the adoption tax credit does not expire. Also, S. 2816 would ensure that a couple would be allowed to claim adoption expenses when they were incurred and not just when the adoption was finalized.