Gary Bode, CPA: it pays to be proactive with Adoption Credit issues. For a free phone consult, please call (910) 399-2705.
Hi, I’m Gary Bode, an adoption CPA with a virtual office to serve clients outside of our Wilmington NC base.
Form W-7A, Application for Taxpayer Identification Number for Pending U.S. Adoptions, merely requests a tax identification number for your adopted child. Use it when the adoption is final and you’re waiting for that upcoming joyous day. Form W-7A jump starts the timeline for filing the Adoption Credit, and other tax incentives for children.
“Without a Social Security or tax identification number for your adopted child, the IRS may delay processing your Adoption Credit. Ouch!”
- Gary Bode, adoption CPA and Form 8839 preparer
Adoption is a long, expensive process that stresses family economics. In my experience, these families rely on the expectation of a cash refund via the Adoption Credit. They’ve paid thousands of dollars up front and desperately need the refund generated by Form 8839. A potential tax savings and/or cash refund of $13,360 deserves planning to help insure you get it ASAP. It pays to be proactive with the IRS. Make sure you have an ATIN or SS number for your child by the time you can actually file.
The Name has to match the ATIN or Social Security Number
Form W7-A is part of an entire range of problems that expat CPAs and divorce CPAs deal with, too. Women change their names through marriage and divorce. Resident aliens need an ATIN to comply with US tax laws. It’s easier to comply proactively with the IRS and have the name and number match before filing the tax return.
I understand you don’t need an adoption CPA to file Form W7-A. But, if you need an experienced adoption CPA to prepare Form 8839 and optimize the Adoption Credit, please consider using us. We offer a free phone consult: (910) 399-2705.
