Adoption tax credit

An adoption tax credit is a tax credit offered to adoptive parents to encourage adoption. Section 36C of the United States Internal Revenue code offers a credit for “qualified adoption expenses” paid or incurred by individual taxpayers.
According to the Internal Revenue Service (IRS), "Tax benefits for adoption include both a tax credit for qualified adoption expenses paid to adopt an eligible child and an exclusion for employer-provided adoption assistance". For tax years 1997 through 2009, the credit was nonrefundable. For 2010 and 2011, the credit was refundable. For tax year 2012, the credit has reverted to being nonrefundable, with a maximum amount (dollar limitation) of $12,650 per child." The American Taxpayer Relief Act of 2012 enacted January 2, 2012 permanently extended the adoption tax credit.. For 2013 the nonrefundable maximum tax credit per child is $12,970. The credit begins to phase out when modified adjusted gross income (MAGI) exceeds $194,580 and is eliminated...