The IRS approach to examining people claiming the newly expanded adoption tax credit could blunt the uptake of the popular break expanded in last year’s GOP tax law.
CEO Frank Bisignano has charged the IRS with going after fraud—particularly with the new and updated provisions in that law. At the same time, partial refundability and broad documentation requirements make the adoption credit more attractive, and a target for potential bad actors and boosting the potential for mistakes when filing.
“These are not the families that are going to go buy a big screen TV,” said Becky Wilmoth, an enrolled agent ...