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I received a letter today after being in reviews for months that my adoption tax credit is being denied because I can't provide a cancelled check with what we paid the adoption agency. My parents actually wired the money to the agency for us and we have been making payments to them. Does that mean I don't qualify for the credit because I took out a personal loan to pay for it? Help!!!!
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This is what I fear in our case. All of our documents were destroyed in a hurricane - the attorney we used is now disbarred and unreachable, the bank we used at the time has since gone out. I have been spending my days tracking anything and everything I can from other sources ( airlines, hotels, etc. ).
I do know that you can appeal the decision....
So sorry this is happening to you.
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Sorry this is happening to you too! I was able to locate the bank that purchased the bank we had our home equity line through and they are going to get some cancelled checks from their archives but it can take 5 weeks. Hopefully you can find out who took over the accounts at the bank you were with at the time. We were using our home equity line of credit to pay for a portion of it and my parents were doing a gift/loan combo for the rest. Just to make things easy my mom sent the wire so that the agency would not have two wires coming in. I guess that was a big mistake on my part - I always thought the IRS was concerned with receipts, not cancelled checks/bank statements :( I am meeting with a tax advisor in a week to see what she recommends and will post back in case anyone else is in a similar situation. But then I look at my son and even if I did not get a penny of the adoption credit it would not matter because in the end I got him :)
I'm just gathering anything and everything I can before they contact me again. Our situation is much like yours... we borrowed the amount for the adoption from my father and then paid it back a month later from a home equity loan. My father passed away last Sept, and mom got rid of everything paper. The man kept a receipt for everything, LOL, and I know he would have had a copy of our check back to him. I called the bank that took over - dead end there because they only got the records of accounts that had been active within the year prior to their taking over. Funny thing is, we opened the account at this bank ( which was not our regular bank) specifically to be used only for things related to the adoption.
