The American Opportunity Tax Credit and the Lifetime Learning Credit reduce taxpayers' income tax liability on a dollar-for-dollar basis for qualified education expenses. This helps offset the cost of higher education.
Here's what colleges, universities, trade and technical schools, educational organizations, student organizations, high schools need to know:
IRS has products to help you inform students and parents about the availability of education tax benefits:
Here's what those who prepare the Form 1098-T need to know:
The importance of providing an accurate and timely Form 1098-T, Tuition Statement, to help students offset the cost of higher education and help them avoid costly errors with IRS. See the Instructions for Forms 1098-E and 1098-T for more information.
Here's what tax return preparers need to know:
Education Tax Credit Resources
Find out who qualifies for the Education Credits
Find the latest news for refundable credits on Hot Topics for Refundable Credits
See the AOTC, the LLC and the Tuition Deduction criteria side by side on our Compare Education Credits and Tuition and Fees Deduction chart
Find out how to Avoid Common AOTC Errors
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