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Considering Foster Care & Adoption Subsidy Payments as Income

By |2023-03-01T16:25:10-05:00March 1st, 2023|

Foster Care boarding home and adoption subsidy maintenance payments are not considered as family income for income tax purposes, but either may be considered as income for other purposes such as determining eligibility for subsidized housing.

Calculating the Amount of Adoption Subsidy Based on Income

By |2019-10-25T13:17:35-04:00October 17th, 2019|

In New York State, monthly adoption subsidy payments continue until the child is 21, unless the adoptive parent is no longer legally responsible for the support of the child or the child is no longer receiving any support from the adoptive parent. The adoption subsidy is supposed to follow the child.

Do Foster Care & Adoption Subsidy Payments as Count as Income?

By |2019-05-17T13:00:54-04:00May 17th, 2019|

Since 1974, the IRS has ruled that adoptive parents do not need to include adoption assistance benefits in their taxable income. Foster Care boarding home and adoption subsidy maintenance payments may be considered as income for other purposes such as determining eligibility for subsidized housing.

New York State Adoption Subsidy Forms

By |2019-10-25T13:17:35-04:00October 17th, 2018|

NYS OCFS Adoption Subsidy Agreement forms are available. Prospective adoptive parents should read the completed forms and instructions carefully before signing the agreement as they contain important information about agreed upon rates, eligibility, reporting requirements, and post-finalization amendments to the agreement.

What We Know (and Don’t Know) About Adoption Subsidies

By |2019-10-25T13:17:35-04:00October 17th, 2016|

Adoption subsidy is governed by Federal Law under Title I-V E of the Social Security Act and State Law under Social Services Law 451 and regulations of the New York State Office of Children and Family Services (OCFS) under 18 N.Y.C.R.R. 421. There are many complexities and exceptions, even exceptions to exceptions

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