On June 7, 2001 The Hope For Children Act was signed as part of the Economic Growth and Tax Relief Recommendation Act of 2001 by President Bush. This new law states that families are now eligible for a tax credit of up to $10,000. If your annual income is $150,00 or less, you are eligible for the full tax credit amount. If your annual income exceeds $150,000, you are eligible for a portion of the tax credit amount. For complete details on the adoption tax credit please visit www.irs.gov.