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- Title
Individual Tax Update, Part 3.
- Authors
Curatola, Anthony P.
- Abstract
The article focuses on provisions of the 2002 Job Creation and Worker Assistance Act (JCWAA) concerning foster care payments, teacher classroom expenditures, and the principle residence of missing children. It states that from 1997 to 2001, tax credits and exclusions were provided for qualified adoption expenses that were incurred by taxpayers with a maximum exclusion of $5,000 per eligible child, $6,000 for special needs children. It mentions the eligible child needs to be a citizen or resident of the United States. It states that the JCWAA resolves a question on which dollar limits apply for amounts paid or incurred during the 2001 tax year if the adoption was not finalized until the following year or later.
- Subjects
UNITED States; LEGISLATION; ADOPTION; COST; AMERICAN children; CHILDREN with disabilities; TAXATION; TAX credits; TAX exclusions; ADOPTION laws; SPECIAL needs adoption
- Publication
Strategic Finance, 2003, Vol 84, Issue 9, p15
- ISSN
1524-833X
- Publication type
Article