July 17, 2012 @ 2:52 PM
The federal adoption tax credit for 2012 is $12,650. (Please see our detailed article on the tax credit for details). If no further action is taken by Congress to extend the tax credit, it will expire in 2013, with the exception of a smaller credit continuing to exist ($5,000), and only for special needs children.
On April 17th, Representative Bruce Braley (Iowa) introduced the Making Adoption Affordable Act (Bill number: H.R. 4373). If enacted, it will not only renew, but also expand, the federal adoption tax credit, making it permanent and refundable. (For 2012, the credit is not refundable - meaning you must have paid federal taxes to obtain the credit, and every year or two legislation is introduced to extend the......
July 3, 2012 @ 10:26 AM
As is the norm, California only allows children to have no more than two lawful parents for a child. Although in most states the limitation for these two parents is mother and father (e.g. female and male), in some states, the parents may be of the same gender, typically through adoption, step-parent adoption or surrogacy. Now, a new bill is pending in California which would allow a child to have more than two legal parents.
The bill pending in the California Senate (SB 1486), was introduced by Senator Mark Leno (D) from San Francisco. “The bill brings California into the 21st century, recognizing that there are more than Ozzie and Harriet families today,” Leno told the Sacremento Bee. He said the bill is not ...