April 10, 2012

The Adoption Tax Credit: Those Last Few Details You Need To Know

If you haven’t filed your taxes yet, there’s still time to make sure that you’re fully prepared to receive your adoption tax credit before the 15th hits. Thing you want to know:

1. There have been a great deal of delays. Apparently Adoption Tax Credit beneficiaries are being heavily audited, and this is contributing to a longer turnaround time.

2. Keep all of your documentation! In many cases, the IRS may need to see it again — this doesn’t mean that you haven’t done your paperwork properly, necessarily, but just that it needs to be resubmitted.

3. If your delay has become excessive, there is a Taxpayer Advocacy Service which can help advise and expedite any delayed payments (particularly those causing financial hardship). Find your local advocate here.

For more information, Creating A Family has a great deal of applicable resources.