Bills Tax Service of Centralia LLC is a locally owned and operated professional tax accounting business owned by Alan and Jaime Newcomb. We have specialized in professional tax preparation, planning and representation, accounting services, and payroll services since 1977. Alan and Jaime have been foster parents for years and have since adopted two children. This is more than just about business for us! In 2011, we began to see a desperate need for adoptive parents to be informed of the Child Adoption Tax Credit. Bills Tax Service is also a member of the Christian Alliance for Orphans. We can help you wade through the tax documents needed to claim the Tax Credit.
We have helped many adoptive parents claim the Adoption Tax Credit. The Adoption Tax Credit was introduced to help make adoption more affordable. Many were unaware of this credit. That is how our mission began. It was mostly word of mouth by our clients. We began doing free seminars for adoptive parents to help spread the word. This project has since developed into a nationwide effort. We have linked up with Adoption agencies, organizations, and other professionals to help adoptive parents.
If you have adopted a child in the last three years and did not claim the Adoption Tax Credit you may be eligible to go back and amend your tax return to claim the credit. Even though the Adoption Tax Credit is non-refundable at this time, it is still a great credit. The credit will help cover your tax liability and what you do not use the first year you can carry it forward for up to five years.
Even if you have zero tax liability you still need to claim the credit if you qualify. First, everyone's tax situation could change from year to year. Second, in the event that the credit becomes refundable again you will have the carry-forward credit already there waiting! The Adoption Tax Credit has been made a permanent part of the IRS code.
The Adoption Tax Credit amount is $13,400 for 2015. The income phase out range is $ 201,010 - $241,010.
501 W. Broadway
Centralia, IL 62801