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We're getting a $54,000 tax refund! (only in America)
CNN ^ | 1 Apr 2011 | Blake Ellis

Posted on 04/02/2011 11:03:04 AM PDT by mandaladon

SMITHFIELD, N.C. (CNNMoney) -- The Wards couldn't believethe news when their tax preparer called to tell them they're getting a $54,000 refund this year.

Thelma Ward was speechless. She had to hand the phone to her husband so she could dance around the living room floor in shock. "I was thanking God like never before," she said. "We're just overwhelmed -- that amount was so huge it was unbelievable."

Even their tax preparer said she had to check the math -- 10 to 15 times.

"We couldn't believe it when we totaled everything up. We were like, that can't be right," said Dee Carter, owner of the local H&R Block where the Wards have brought their taxes for more than 10 years. "We had never seen anything like it before, so we had to check it over and over again."

So what's bringing this windfall? The federal adoption tax credit.

In the past few years, the Wards have expanded their already big clan of seven children by adopting five new kids. For each of these adopted children, they are eligible for a one-time tax credit of up to $13,170.

The credit has been around since 1997, but this tax season it is refundable for the first time -- which is the tax equivalent of hitting the jackpot.

A refundable tax credit lets you get the cash even if you owe no taxes. A non-refundable credit just offsets any taxes you owe, and then rolls anything remaining to the next tax year.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Constitution/Conservatism; Culture/Society; Extended News
KEYWORDS: adoption; obama; taxcredit; taxes; walfare
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To: mandaladon
"Our government sure likes to give away money"

Why not? It's from those who actually WORK for a living, handed to those who don't......we need to "share" (see tagline)


51 posted on 04/02/2011 12:10:33 PM PDT by traditional1 ("Don't gotsta worry 'bout no mo'gage, don't gotsta worry 'bout no gas; Obama gonna take care o' me!)
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To: mandaladon

Adoption costs over $20K. I think the tax credit ($13k) is completely reasonable. G-d bless those who adopt.

HOWEVER, I have always hated “refunds” for people who do not pay income tax. Whether for adoption or otherwise, there should be NO REFUNDS if you didn’t pay anything. I can’t walk into Target today and ask for a refund on the TV I did not buy, so how can taxpayers qualify for refunds they didn’t pay?


52 posted on 04/02/2011 12:15:14 PM PDT by Yaelle
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To: WinOne4TheGipper

LOL!!!


53 posted on 04/02/2011 12:27:14 PM PDT by Paved Paradise
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To: mandaladon

You can adopt foreign kids too to get this freebie.


54 posted on 04/02/2011 12:29:32 PM PDT by Eternal_Bear
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To: mandaladon

Interesting thread. Thanks.


55 posted on 04/02/2011 12:38:56 PM PDT by bronxville (Sarah will be the first American female president.)
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To: mandaladon

Geeeesh. I make $30,000 a year and got back $42 from the feds and, believe it or not, owe the lovely state of Illinois...$42.


56 posted on 04/02/2011 12:45:34 PM PDT by TruthBeforeAll (To a liberal, if an idea is a complete & utter disaster, it's only because there's not enough of it.)
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To: org.whodat

Right. The world is better off with more unadopted orphans.


57 posted on 04/02/2011 12:46:32 PM PDT by Theo (May Rome decrease and Christ increase.)
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To: mandaladon

Joe Biden


58 posted on 04/02/2011 12:48:25 PM PDT by stylin19a
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To: Eternal_Bear

Yours is but one of several heartless comments here. Your antipathy toward orphans is sick.


59 posted on 04/02/2011 12:49:09 PM PDT by Theo (May Rome decrease and Christ increase.)
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To: Graybeard58
My wife and I are adopting 2 children, I wasn’t aware of this. I knew about the credit but did not know that we could actually receive that much as a “refund”.

Depends on your skin color.

If you are not one of Eric's peoples, forget it.

60 posted on 04/02/2011 12:49:39 PM PDT by E. Pluribus Unum ("...crush the bourgeoisie... between the millstones of taxation and inflation." --Vladimir Lenin)
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To: dfwgator
So basically they gave the government a $54,000 interest-free loan.

I wish this were the case, but no, they cashed in on the adoption credit, which became refundable this year. If I had to guess they probably had relatively little wages withheld. This is about as brazen as wealth redistribution gets.

61 posted on 04/02/2011 12:52:44 PM PDT by notfornothing
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To: fish hawk
Is that $54,000 taxable?

No, unless part of it is due to itemizing deductions and they recover some of those deductions (eg if they get a state refund and they had claimed state tax withholding as an itemized deduction.) Otherwise, the money is tax-free.

62 posted on 04/02/2011 12:57:10 PM PDT by notfornothing
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To: Mark

I know of someone who has taken full advantage of the system. She and her husband adopted 3 special needs children. They got a few thousand a month plus Medicaid and food stamps, free housing and utilities. Then, they divorce.....the ex-husband has to pay child support! The woman is raking it in hand over fist. She seriously does not have to pay for anything. And, yet, she is consistently broke. Argh!


63 posted on 04/02/2011 12:58:13 PM PDT by ozaukeemom (Is it 2012 yet?)
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To: moehoward

Lets see, with current inflation; that’s a weeks groceries.


64 posted on 04/02/2011 1:08:12 PM PDT by AFreeBird
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To: IrishCatholic
Where are they getting over? I don’t see it.

Then you are indeed a lefty at heart. Giving a tax credit is one thing, giving a refund without taxes being paid is a rip off of the rest of us. As for the expenses of the people raising the adopted children, that is their problem, not the problem of the taxpayers of the USA. When they adopted them it wasn't with the provision that we would subsidize their expenses. The state saves the money of raising them whether they give a refund or not, and that is one of the dumbest damn excuses for ripping off the taxpayers I have ever heard.

Giving refunds will probably lead to wide spread fraud in the adoption field.

65 posted on 04/02/2011 1:44:13 PM PDT by calex59
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To: IrishCatholic
Where are they getting over? I don’t see it.

Then you are indeed a lefty at heart. Giving a tax credit is one thing, giving a refund without taxes being paid is a rip off of the rest of us. As for the expenses of the people raising the adopted children, that is their problem, not the problem of the taxpayers of the USA. When they adopted them it wasn't with the provision that we would subsidize their expenses. If the children are already adopted the state saves the money of raising them whether they give a refund or not, and that is one of the dumbest damn excuses for ripping off the taxpayers I have ever heard.

Giving refunds will probably lead to wide spread fraud in the adoption field.

66 posted on 04/02/2011 1:44:58 PM PDT by calex59
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To: Theo
Actually the little womans father was an unadopted orphan, served the duration of WWII in the pacific .

Now you can look up the pictures of those kids in flordia. That were in their cages because good honest people wanted their crazy checks.

Oh, wait, don't confuse the several with the two kids, where one was starved to death, after all only good honest caring people adopt. Oh, wasn't the little blond kid in new York, abused by her father and mother adopted, and the otherone beaten because she wet herself, and, and, oh, never mind, you may be right.

67 posted on 04/02/2011 2:02:16 PM PDT by org.whodat
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To: org.whodat
What page and line in the Constitution makes this the business of the damn government and a give away program, redistribution, of hard working peoples income. Do gooders should do good out of their own pocket.
68 posted on 04/02/2011 2:06:17 PM PDT by org.whodat
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To: sodpoodle

Billions for abortion subsidies. $54,000 for adoption.

But you are right. Planned Parenthood will not like this.


69 posted on 04/02/2011 2:18:39 PM PDT by UnwashedPeasant (Don't nuke me, bro)
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To: mandaladon

I had to pay an additional $54, 000 last year. Did they get my money?


70 posted on 04/02/2011 2:19:29 PM PDT by The_Media_never_lie
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To: Yaelle
"Adoption costs over $20K."

How much of that goes to government or government-sponsored organizations? Probably all of it. Adoption should be free, like abortion.

71 posted on 04/02/2011 2:58:13 PM PDT by UnwashedPeasant (Don't nuke me, bro)
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To: mandaladon

On the other hand, the article is dated as April 1st.


72 posted on 04/02/2011 4:01:40 PM PDT by R_Kangel (`.`)
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To: unixfox
While those of us who never had children or never will, get PENALIZED.

No, no, we are not penalized. We get our benefits every day.

73 posted on 04/02/2011 4:33:27 PM PDT by OldPossum
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To: org.whodat

Um. Huh? This family is doing good, and you associate them with child abusers? What do you have against adoption?


74 posted on 04/02/2011 4:53:32 PM PDT by Theo (May Rome decrease and Christ increase.)
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To: mandaladon

A wave of adoptions will ensue as soon as the overall public hears the news about “free money” for adoptions.


75 posted on 04/02/2011 5:01:43 PM PDT by VideoDoctor
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To: VideoDoctor

Hopefully that’s the case.


76 posted on 04/02/2011 5:07:29 PM PDT by Theo (May Rome decrease and Christ increase.)
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To: calex59

I have the strength of ten because my heart is pure, but I can’t fix stupid.


77 posted on 04/02/2011 5:37:32 PM PDT by IrishCatholic (No local Communist or Socialist Party Chapter? Join the Democrats, it's the same thing!)
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To: Theo

Don’t have anything against adoptions, just against doing it for my money. You want to do good, do it on your own dime.


78 posted on 04/02/2011 5:59:35 PM PDT by org.whodat
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To: Theo

I have no antipathy for orphans. Why should the government be subsidizing this when it has no money? You must be a libtard.


79 posted on 04/02/2011 7:19:31 PM PDT by Eternal_Bear
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To: Clink

Lol


80 posted on 04/02/2011 8:30:43 PM PDT by WinOne4TheGipper (http://www.youtube.com/watch?v=AtC_wld3YJE&feature=youtube_gdata_player)
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To: mandaladon

I’ll try to adopt a 19-year old blonde Russian girl, a 20-year old Belarus girl and a 21-year old Romanian brunette, how much would my tax refund be?


81 posted on 04/02/2011 9:34:16 PM PDT by max americana ( NF)
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To: mandaladon

Like the “Earned Income Tax Credit”. People on welfare have a few little whelps, work a few weeks, quit and they can get back more in a refund than they paid in taxes.
Talk to someone who works with the IRS that has to deal with these leeches. They dont even know their own kids SSN. And then when both the mother and father try to claim the kid on their taxes,it gets ugly.
The Tax credit was suppost to be for buying clothes for the children but most of the cash goes to big screens and video games.


82 posted on 04/03/2011 2:55:52 AM PDT by Yorlik803 (better to die on your feet than live on your knees.)
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To: Eternal_Bear

A libtard? Let it go, newby.


83 posted on 04/03/2011 7:20:30 AM PDT by Theo (May Rome decrease and Christ increase.)
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To: Boogieman
“For each of these adopted children, they are eligible for a one-time tax credit of up to $13,170.” If one were unscrupulous, one could adopt a few 17-year olds every year and make a killing. At 17, you can get them a part time job to pay their room & board, then boot em out at 18 and adopt a few more. Too bad I am not unscrupulous :(

Here I was thinking about getting my dog a social security number and you reminded me about scruples! :(

84 posted on 04/03/2011 8:02:01 AM PDT by txnuke (Obama votes "PRES__ENT" because he has no ID.)
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To: Boogieman
“For each of these adopted children, they are eligible for a one-time tax credit of up to $13,170.” If one were unscrupulous, one could adopt a few 17-year olds every year and make a killing. At 17, you can get them a part time job to pay their room & board, then boot em out at 18 and adopt a few more. Too bad I am not unscrupulous :(

Here I was thinking about getting my dog a social security number and you reminded me about scruples! :(

85 posted on 04/03/2011 8:04:15 AM PDT by txnuke (Obama votes "PRES__ENT" because he has no ID.)
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To: Theo

I have been here over 10 years. What are u talking about? A libtard is a retarded liberal. I hope you are not one. I absolutely hate them. I hate it when they give out money for any cause they consider worthy no matter how bankrupt we have become. I hope you agree with me.


86 posted on 04/03/2011 10:53:02 AM PDT by Eternal_Bear
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To: Graybeard58

Good on ya for taking kids in.


87 posted on 04/03/2011 10:57:26 AM PDT by mad_as_he$$
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