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Category Archives: Adoption Articles
Tax Benefits for Adoption – For 2023 Tax Year
By Stanton Phillips, Esquire Adoptive parents may be eligible to take a tax credit of up to $15,950.00 for qualifying expenses paid toward the adoption of a child. Since it is a tax credit, not a deduction, it is an … Continue reading
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Interstate Compact on Placement of Children
The Interstate Compact on the Placement of Children (hereinafter referred to as ICPC) is a set of uniform laws governing the interstate placement of children enacted in every state, the District of Columbia and the Virgin Islands.
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Adoption Subsidy 101
In order to encourage adoption of children considered hard to place, money may be available to the adoptive parents to defray certain expenses. Depending on the child’s eligibility, the money may be available from the federal government and/or the state placing the child.
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