Wednesday, October 26, 2011

October eNews

Read the October eNews by clicking on the following link:  October eNews

2012 Adoption Tax Credit

The adoption tax credit is adjusted each year based upon the cost of living allowance. The adjusted numbers have been published by the IRS in Revenue Procedure 2011-52.

The maximum credit for 2012 will be $12,650. The full credit will be available to taxpayers with modified adjusted gross income of $189,710 or less and the amount of the available credit phases out to zero as modified adjusted gross income approaches $229,710.