Taxpayer Resources Available on Education Tax Credits and Benefits

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January 28, 2013

As tax season begins and institutions send out Forms 1098-T, the IRS is promoting new tools to draw students and families' attention to higher education tax breaks, as well as resources to help them understand the federal tax credits and deductions they may be eligible to claim on their tax returns.

Publication 4772 is a one-page flyer briefly describing the American Opportunity Tax Credit (AOTC), with a link to additional information. It is intended to be handed out or mailed to students or posted around campus. The IRS has also developed the Interactive Tax Assistant, an online progression of questions to help taxpayers determine their eligibility for either the AOTC, the Lifetime Learning Credit, or the above-the-line deduction for tuition and fees.