On February 26, 2014 the Ways and Means Chairman, Dave Camp (R-MI), released a tax reform proposal outlining his plan to reform the American tax code. The Tax Reform Act of 2014 would end the adoption tax credit. The discussion draft stated, “The adoption credit can be complex and overlaps with other tax provisions that provide tax benefits for families. Consolidating redundant and complex family tax benefits, such as the adoption credit, into an increased child credit and standard deduction would result in significant simplification.”
In June, the Adoption Tax Credit Working Group wrote a letter to the Chairman urging members of Congress to not eliminate the federal adoption tax credit and to improve it so that more adoptive families can benefit from this essential resource. View the letter
Thank you to the Save the Adoption Tax Credit working group. You keep me very hopeful, that some day I may be able to touch this credit.