ARRA Expands Hope Scholarship Credit
The American Recovery and Reinvestment Act includes an expansion of the Hope scholarship credit that will provide additional support to many American families that have members attending post-secondary educational institutions. The expanded credit, called the American opportunity tax credit, modifies the...
Published on December 01, 2009
Tax Benefits for Education
An array of tax benefits are available to taxpayers, including income exclusions for educational assistance, scholarships, and distributions from qualified tuition plans and educational IRAs, as well as credits for tuition and certain education-related expenses and a deduction for tuition payments
Published on July 01, 2010
Hope vs. Opportunity Higher Education Tax Incentives
...starting after 2010 (Treasury Dept., General Explanations of the Administrations' Fiscal Year 2011 Revenue Proposals (PDF), February 2010, pages 21-22). This article compares the AOTC to the Hope Scholarship credit
Published on July 15, 2010
AICPA News Update - February 1, 2013
...System Due to Court Ruling on Preparer Registration; New Tool Available: How to Manage Customer Value; Selected Content on CGMA.org to Be Locked Beginning Feb. 8; 2013-14 Scholarship Applications Now Available; Get the Latest News on AICPA Insights
Published on February 01, 2013
AICPA News Update Vol. 14 No. 4
Tax Strategy Patent Bills Introduced in Senate
Published on January 28, 2011
Improved Education Credit Opportunities for High-IncomeTaxpayers
For 2009 and 2010, the American opportunity tax credit provides increased credit amounts for higher education expenses. This article discusses how taxpayers can best take advantage of the credit.
Published on March 01, 2010
AICPA News Update Vol. 14 No. 17
AICPA Foundation Launches Revamped Website
Published on April 29, 2011
Dependency Exemption Issues for College Students
Parents and tax professionals can no longer assume that a college student will remain a dependent of the parent until he or she graduates. With the variety of funding sources students use to pay for the ever-increasing cost of higher education, many are likely to provide over one-half of their
Published on August 01, 2010
Individual Taxation Digest of Recent Developments
This article covers recent developments affecting taxation of individuals, including last year’s tax relief and small business legislation, regulations, cases, and IRS guidance. The items are arranged in Code section order.
Published on June 01, 2011
The New Student Tax
The Internal Revenue Code contains a number of tax incentives to encourage college attendance. However, it also contains one “student tax” disincentive.
Published on October 01, 2008