Bookmark and Share [ [link removed] ]
a { color:#0073AF !important;} a:hover { color:#004673 !important;} <!-- body { font-family: arial; } p { font-size: 12px; } li { font-size: 12px; } h2 { font-size: 24px; font-style: italic;} -->
IRS.gov Banner
IRS Tax Tips April 3, 2024
Useful Links:
IRS.gov [ [link removed] ]
Help For Hurricane Victims [ [link removed] ]
________________________________________________________________________
News Essentials
What's Hot [ [link removed] ]
News Releases [ [link removed] ]
IRS - The Basics [ [link removed] ]
IRS Guidance [ [link removed] ]
Media Contacts [ [link removed] ]
Facts & Figures [ [link removed] ]
Around The Nation [ [link removed] ]
e-News Subscriptions [ [link removed] ]
________________________________________________________________________
The Newsroom Topics
Multimedia?Center [ [link removed] ]
Noticias en Espa?ol [ [link removed] ]
Radio PSAs [ [link removed] ]
Tax Scams/Consumer Alerts [ [link removed] ]
The Tax Gap [ [link removed] ]
Fact?Sheets [ [link removed] ]
IRS Tax Tips [ [link removed] ]
Armed Forces [ [link removed] ]
Latest News [ [link removed] ]
________________________________________________________________________
IRS Resources
Contact?Your Local IRS?Office [ [link removed] ]
Filing Your Taxes [ [link removed] ]
Forms & Instructions [ [link removed] ]
Frequently Asked Questions [ [link removed] ]
Taxpayer Advocate Service [ [link removed] ]
Where to File [ [link removed] ]
IRS Social Media [ [link removed] ]
?
________________________________________________________________________
Issue Number: Tax Tip 2024-26
________________________________________________________________________
*Adoptive parents: Don?t forget about the Adoption Tax Credit*
Taxpayers who adopted or started the adoption process in 2023 may qualify for the adoption credit. This credit can be applied to international, domestic, private and public foster care adoption.
Here is some basic information to help people understand this credit and whether they can claim it when they are filing their taxes:
* The maximum adoption credit taxpayers can claim on their 2023 tax return is $15,950 per eligible child.
* There are income limits [ [link removed] ] that could affect the amount of the credit.
* Taxpayers should complete Form 8839, Qualified Adoption Expenses [ [link removed] ], to figure how much credit they can claim on their tax return.
* An eligible child must be younger than 18. If the adopted person is older, they must be unable to physically take care of themselves.
* This credit is non-refundable. This means the amount of the credit is limited to the taxpayer's taxes due for 2023. Any credit left over from their owed 2023 taxes can be carried forward for up to five years.
* Qualified expenses include:
* Reasonable and necessary adoption fees.
* Court costs and legal fees.
* Adoption related travel expenses like meals and lodging.
* Other expenses directly related to the legal adoption of an eligible child.
* In some cases, a registered domestic partner may pay the adoption expenses. If they live in a state that allows a same-sex second parent or co-parent to adopt their partner's child, these may also be considered qualified expenses.
* Expenses may qualify even if the taxpayer pays them before an eligible child is identified. For example, some future adoptive parents pay for a home study at the beginning of the adoption process. These parents can claim the fees as qualified adoption expenses.
* Taxpayers who adopt their spouse's child can't claim this credit.
?
*More information*
Adoption Taxpayer Identification Number [ [link removed] ]
?
Back to top [ #top ]
?
________________________________________________________________________
FaceBook Logo [ [link removed] ]??YouTube Logo [ [link removed] ] ?Instagram Logo [ [link removed] ]? Twitter Logo [ [link removed] ] ?LinkedIn Logo [ [link removed] ]
________________________________________________________________________
Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov [ [link removed] ].
This message was distributed automatically from the IRS Tax Tips mailing list. *Please Do Not Reply To This Message.*
?
________________________________________________________________________
Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page [ [link removed] ]. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com [ [link removed] ].
This service is provided to you at no charge by the Internal Revenue Service (IRS) [ [link removed] ].
body .abe-column-block {min-height: 5px;} ________________________________________________________________________
This email was sent to
[email protected] by: Internal Revenue Service (IRS) ? Internal Revenue Service ? 1111 Constitution Ave. N.W. ? Washington, D.C. 20535 GovDelivery logo [ [link removed] ]
body .abe-column-block { min-height: 5px; } table.gd_combo_table img {margin-left:10px; margin-right:10px;} table.gd_combo_table div.govd_image_display img, table.gd_combo_table td.gd_combo_image_cell img {margin-left:0px; margin-right:0px;}