Fiscal Cliff Silver Linings

Gary Marx | Silver Linings Alert: After careful review of the “fiscal cliff” compromise bill that the President just signed into law, we are pleased to report that both the child tax credit deduction and all charitable gift deductions have been protected. FFC had voiced to leadership in Congress our great concern that both these cornerstones of pro-family tax policy be maintained if not strengthened in the future.  Finally, the $10,000 adoption tax credit was also maintained and will now be a permanent feature of U.S. tax law.