In addition to expanding your family, giving a child in need a loving home and feeling the satisfaction that adoption brings, there are also financial benefits attached to adopting a child in Kansas. Just as the tax credits and deductions families can make when they get married, buy a house or have a child, a tax credit may be applicable when you adopt a child. If you are a resident of Kansas and have recently adopted a child or you are considering adopting a child and wish to explore the plethora of benefits adoption can provide, the IRS also offers encouragement for those seeking to grow their family.
Types of Adoption Credit Available
Specifically, there are two types of adoption tax credit that individual taxpayers can apply for. Commencing in 2005, the law provided for two forms of tax credit to Kansas residents who adopted a child.