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Archive for the ‘Adoption’ Category

NDP offers relief to the Sandwich Generation

The battle for the hearts and minds of Canadians facing the prospect of caring for their parents and their own children continued Tuesday with NDP Leader Jack Layton presenting his $1 billion plan

Our Foster Adoption Journey – Step 2: The Application

Question: Adoption Credit Form 8839?

I adopted a child as a second parent adoption and it was finalized in December of 2009. I did not report it on my 2009 taxes. I incurred expenses in 2009 and 2010.

I think I need to claim my 2010 expenses on my 2010 return and amend my 2009 return for those expenses.

I am working on my amendment to my 2009 return. I keep getting a 0 on line 18 of the 8839. I did not spend more than the 12150 maximum. Should I get a credit on my 2009 amended return for my expenses or do I have to use the carryforward worksheet?

Thank you.

Answer: yes

IRS Sticks To April 18 Tax-Filing Deadline Even If Government Shuts Down

The Internal Revenue Service will delay processing tax returns filed on paper if many government functions shut down April 8 because of the budget stalemate in Congress, potentially stalling refunds for millions of taxpayers.

Tax Tips 2010 #9 of 20

North Central Community Calendar — Dec. 16

share: digg facebook twitter Send your North Central public event notices (including recreational sports) for free to Edmond Ortiz at eortiz@primetimenewspapers.com; by fax at 250-3350; or by mail to him in c/o North Central News, P.O. Box 2171, San Antonio, TX 78297-2171. North Central Baptist Hospital hosts support groups and free educational programs: couples …

Question: International Adoption tax question.?

We adopted our daughter from China. We started the process in 2005, our home study Anniversary date was 12/05/2005 Because of the very long match waits we did not travel till Feb of this year, 2008. The adoption as far as China is concerned was finalized in China, Our Daughter became a US citizen when we touched down back in the states. Both my husband and I traveled to China so the adoption would be complete there. Our State, VA requires a 1 year followup for the ‘re-adoption’ to receive a VA Birth Certificate. Our Agency as well requires a 1 year update this will be at the end of Feb. 2009.

Does anyone know about the Federal Government Tax credit for adoption? It is my understanding that it is around $10500 or so. Can we claim this credit this year on our 2008 taxes or will we be forced to wait one more year to claim this on our 2009.

Answer: Hi Lilly,

I think you can claim the tax credit on your 08 filing. You’ll need IRS form 8839. The instructions are on IRS publication #968.

If you google the form and publication, you should find what you’re looking for.

BTW- Congratulations!

Senate Tax-Cut Plan Would Add $857 Billion to Debt Over Decade

Senate leaders released an agreement crafted by the White House and Republicans to sustain Bush-era tax rates through 2012, set the estate tax at the lowest rate in 80 years, extend jobless aid and cut payroll taxes by 2 percentage points.

ABBA Fund Introduction

City wins low-cost federal loans

In another boost to Lynn’s waterfront revitalization, the US Department of Housing and Urban Development has awarded the city low-cost financing to support development in the area.

HealthCare.gov: Young Adults and the Affordable Care Act