There are two tax credits designed to help taxpayers reduce education costs: the American Opportunity Tax Credit and the Lifetime Learning Credit. Eligibility requirements For both tax credits, to be eligible: Things taxpayers should know about the education tax credits The American Opportunity Tax Credit
How to file when taxpayers have incorrect or missing documents
Taxpayers should make sure they have all their documents before filing a federal tax return. Those who haven’t received a W-2 or Form 1099 should contact the employer, payer or issuing agency and request the missing or corrected documents. If a taxpayer
ABLE savings accounts and other tax benefits for persons with disabilities
People with disabilities and their families can use Achieving a Better Life Experience accounts to help pay for qualified disability-related expenses. ABLE accounts are savings accounts that don’t affect eligibility for government assistance programs. Here are some key things people should know about