$54,000 Tax Refund for North Carolina Family

A remarkable family from North Carolina is getting a $54,000 tax refund this year. Most people will have a double-take when reading that number for the first time, especially in a time where money is so tight. For this particular family though, the windfall they are receiving this year is about as well-deserved as it could possibly be.

According to CNN, David and Thelma Ward are receiving a huge chunk of this refund because of children they have adopted recently. Over the past three years, the family has opened its home to five adopted children, giving them a place to live and flourish. These five kids are in addition to seven children that are already part of the household, making it an even larger family for the Wards than most of us could possibly deal with.

In the past, the tax code stated that an adoption could receive a nonrefundable tax credit that would apply to the tax expense that a family might have. With a nonrefundable tax, it is basically used as a deduction to drop the amount owed, but it can't be used as part of a refund for a single person or family making the filing. Now the federal adoption tax credit is considered refundable for the first time, meaning it can be applied to anyone's taxes and could mean cash in the pocket of certain families.

The one-time tax credit for each qualifying adoption is $13,170, and the Wards had been unable to take advantage of it until this year. That discovery was made by their people at H&R Block, and the revelation of their final tax refund must have seemed like winning the lottery. For a family as large as this one, regardless of how many new kids have been added to the fold, every dollar counts. Getting a tax refund this large will definitely offset the numerous costs that are associated with taking care of the 12 children in the house now.

The only word that fits when describing the Wards is "remarkable," because they have put themselves out there to help make the lives of several children much better. Opening up their home to all of these kids is something everyone might wish they could do, but there aren't very many of us that have the fortitude to actually commit to it. Despite the shocking amount of the tax refund that the Wards are going to be getting, it certainly seems like the perfect place for those funds to be used.

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