notice
Automatic adoption tax credit refunds, tax year 2025NationwideUnder way since late September; most done by year-endchecked Oct 17
Taxes
More than 50,000 refunds have gone out under a new reading of the 2025 rules. Most eligible families do not need to amend.
By Finance Unc
The IRS has started sending refunds to more than 50,000 taxpayers who are owed more adoption tax credit for 2025, and expects to finish for most eligible taxpayers by the end of the year, the agency said October 16.
The money comes from a Treasury reinterpretation of the 2025 tax law. For tax year 2025 only, unused adoption credit carried forward from 2020 through 2024 can now increase the part of the credit that is refundable in 2025, up to $5,000 per qualifying child. Families who had a carryforward may therefore be owed cash back rather than only a reduced tax bill.
Most people do not need to do anything. The IRS is adjusting accounts itself and says taxpayers should not need to file an amended return. A notice follows, generally within 30 days of the adjustment, showing the amount and whether it was paid out or applied to another tax or non-tax debt. Compare it with your 2025 return and keep it with your records.
Timing depends on how you filed. Returns filed before April 15, 2026, are generally adjusted automatically. Returns filed on extension, and accounts with identity theft flags, freezes or dependency conflicts, will be reviewed later in 2026. Details are at IRS.gov/AdoptionCredit, and your IRS online account will show the adjustment once it posts.
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notice
Proposed Premium Tax Credit regulationsNationwideWould apply from 2027; comments through Nov 30checked Oct 17
Taxes
Treasury and the IRS would limit the credit to citizens, nationals and certain lawfully present noncitizens, and add verification for advance payments. Comments close November 30.
By Finance Unc
The Treasury Department and the IRS have proposed regulations changing who can claim the Premium Tax Credit, the refundable credit that lowers the cost of health insurance bought through the Affordable Care Act marketplaces. The rules carry out changes in the 2025 tax law and would take effect beginning in 2027.
Under the proposal, the credit would be limited to U.S. citizens, U.S. nationals and certain lawfully present noncitizens, and new verification requirements would apply before advance payments of the credit are made. The Department of Health and Human Services is expected to issue parallel rules covering how the marketplaces carry out the checks.
The administration presents the rules as closing eligibility loopholes and preventing improper claims; Treasury Secretary Scott Bessent said subsidies should be reserved for people eligible under federal law. The Federal Register notice sets out which categories of noncitizens would remain eligible and the full verification procedures.
Nothing changes for 2026 coverage, and enrollment for 2027 marketplace plans has not opened yet. Comments on the proposed rules are due November 30 through the Federal Register docket.
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notice
Treasury par yieldsNationwide3-mo 4.26%, 2-yr 4.74%, 10-yr 5.09%, 30-yr 5.43% (Oct 16)checked Oct 17
Investing
By Finance Unc
Treasury's daily par yield curve for Friday, October 16, put the 3-month bill at 4.26 percent, the 2-year note at 4.74 percent, the 10-year at 5.09 percent and the 30-year bond at 5.43 percent, each little changed from Thursday. The next markers are Freddie Mac's mortgage survey on Thursday and the Federal Reserve's decision on October 28.
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