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. 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. 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 working knowledge of all aspects of the legal process to any case or client with his extensive and eclectic legal background. In 1997, John received his undergraduate bachelor’s degree in criminal justice. Shortly after graduation he began work as a fraud investigator for the City of New York. John handled thousands of cases involving welfare and housing fraud. Following this position, he was recruited to and employed by the Prince William County Police Department where he exhibited his superior abilities and received several commendations and awards.
