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Keyword: adoptioncredit

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  • Nearly 70 percent of adoption credit claims were audited by IRS, report finds

    06/18/2013 5:09:04 AM PDT · by SeekAndFind · 11 replies
    Fox News ^ | 06/17/2013 | By Joshua Rhett Miller
    Add another item to the list of red flags that may get you audited: Adopting a child. The Internal Revenue Service mishandled tax returns of adoptive families, flagging for further review 90 percent of those who claimed the adoption tax credit for the 2012 filing season. And a report by the federal agency’s Taxpayer Advocate Service also found that nearly 70 percent of adoptive families — more than 35,000 — had at least a partial audit of their tax return. By contrast, just one percent of all returns are audited. "The IRS's misguided procedures, and its failure to adequately adjust...