President Obama's Proposed FY2013 Budget Includes Extension of ATC

[url=http://www.nacac.org/]NACAC[/url] President Obama's Proposed FY2013 Budget Includes Extension of the Adoption Tax Credit Under current law, the adoption tax credit is not refundable in 2012 or beyond and, beginning in 2013, would apply only to people who incur qualified adoption expenses in the process of adopting a child with special needs. However, President Obama's fiscal year 2013 budget proposal would make the tax credit permanent for all adoption types, and maintain the maximum credit regardless of expenses for families who adopt children with special needs. In addition, the budget proposes making the credit refundable for both 2012 and 2013. Congress has not yet introduced legislation that would extend refundability of the credit, but NACAC is working to enlist members of Congress to sponsor such a bill and will alert our network as soon as there is legislation to lobby for.