Many of us have heard about this looming possibility for that last couple of years. Now it is becoming a reality as the House Ways & Means Committee have released their most recent GOP Tax Plan, which includes the complete elimination of the Adoption Tax Credit (ATC). The ATC, which has existed since 1996, assists families with the financial burden that in incurred through (mostly private) adoption, as foster care adoption is usually at no cost to the adopting family. The current f...

The Adoption Tax Credit (made permanent in the Tax Code in 2013) is a tremendous help to families that adopt children. While the Tax Credit is not refundable, it does offer some relief to many families that adopt children.Unfortunately, the Republicans in the House of Representatives are attempting to push forward a Tax Reform Blueprint, called "A Better Way", which calls for dramatic cuts to tax rates. It pays for these rate cuts, in part, by eliminating some credits and ded...

In the wake of recent events it is a pleasure to see when lawmakers take up an effort to help children and families in need. House Democratic Caucus Leader Rocky Adkins, D-Sandy Hook, on Friday (02/10/2017) filed House Bill 295, legislation to create a Kentucky income-tax credit to offset adoption costs.Adkins was quoted in saying, "Costs such as adoption agency, court and attorney fees and travel expenses can easily run into tens of thousands of dollars. There is already a federal ado...