And You Wonder Why Children are Stolen for ReSale!


David and Thelma Ward could hardly believe it when their HR Block tax preparer called to say they’d be getting a $54,000 tax refund this year.

Yes, that many zeros. And math was checked countless times.

The one-time windfall for the family is attributed to a change in the tax law this year. Since 1997, families who adopt have been eligible for a one-time, $13,170 tax credit per child. Over the past three years through foster care, the Wards added five more kids to their family, which already included seven other children.
What makes this year different, though, is a change in the way the tax credit is defined: it’s now a refundable tax credit. Before, you could only fully benefit from a tax credit if you owed more than the credit. The credits simply offset what you owed in taxes. Staring this year, the adoption tax credit is refundable, meaning it not only offsets the amount you owe but you get the difference in cash.

Since, like the majority of families who adopt in the U.S., the Wards earned a low-to-modest income. They lived off of $39,000 per year, plus monthly stipends for foster care parents, so the credits never paid off. Instead, they rolled over from one year to the next. This year, with the changed law, they get to collect on all the adoptions of the last five years. The credits have a five-year shelf-life and are intended for expenses incurred through international and private adoption. Foster care adoptions don’t typically accrue expenses, but children deemed special needs make their families eligible for the entire credit.

How great for this family! Of course, they’re not in it for the money. They had no idea they’d be getting such a windfall. The refundable credit, which is part of healthcare reform, will likely help other families, too.

http://blogs.babble.com/strollerderby/2011/04/01/family-scores-54000-tax-refund-from-adoptions-will-you/

About yvonnemason

Background:  The eldest of five children, Yvonne was born May 17, 1951 in Atlanta, Georgia. Raised in East Point, Georgia, she moved to Jackson County, Ga. until 2006 then moved to Port St. Lucie, Florida where she currently makes her home.  Licensed bounty hunter for the state of Georgia. Education:  After a 34 year absence, returned to college in 2004. Graduated with honors in Criminal Justice with an Associate’s degree from Lanier Technical College in 2006. Awards:  Nominated for the prestigious GOAL award in 2005 which encompasses all of the technical colleges. This award is based not only on excellence in academics but also leadership, positive attitude and the willingness to excel in one’s major. Affiliations:  Beta Sigma Phi Sorority  Member of The Florida Writer’s Association – Group Leader for St Lucie County The Dream:  Since learning to write at the age of five, Yvonne has wanted to be an author. She wrote her first novel Stan’s Story beginning in 1974 and completed it in 2006. Publication seemed impossible as rejections grew to 10 years. Determined, she continued adding to the story until her dream came true in 2006. The Inspiration:  Yvonne’s brother Stan has been her inspiration and hero in every facet of her life. He was stricken with Encephalitis at the tender age of nine months. He has defied every roadblock placed in his way and has been the driving force in every one of her accomplishments. He is the one who taught her never to give up The Author: Yvonne is currently the author of several novels, including:  Stan’s Story- the true story of her brother’s accomplishments, it has been compared to the style of Capote, and is currently being rewritten with new information for re-release.  Tangled Minds - a riveting story about a young girl’s bad decision and how it taints everyone’s life around her yet still manages to show that hope is always possible. This novel has been compared to the writing of Steinbeck and is currently being written as a screenplay. This novel will be re-released by Kerlak Publishing in 2009  Brilliant Insanity – released by Kerlak Publishing October 2008  Silent Scream – Released by Lulu.com October 2008- Slated to be made into a movie Yvonne’s Philosophy in Life - “Pay it Forward”: “In this life we all have been helped by others to attain our dreams and goals. We cannot pay it back but what we can do is ‘pay it forward’. It is a simple
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