Child-Related Tax Changes

Adoption Benefits Increased
For 2007 and 2008, the maximum adoption credit and maximum exclusion from income under your employer’s adoption assistance program have increased.

Child and Dependent Care Credit
There are new rules in figuring earned income, calculating the credit when there is a temporary absence from work and when working part-time.

Child's Investment Income
For 2008, new rules apply for children between the ages of 18 and 23 with investment income.

Earned Income for Additional Child Tax Credit