March 27, 2018

Taxes- Tuition and Fees

“The tax deduction for tuition and fees, which was due to expire at the end of 2016, was not extended in the new tax cut law, leaving many to believe that it had expired. But the combination of the Bipartisan Budget Act of 2018 that Congress passed in February followed by the 2018 omnibus spending bill that it passed last Friday extended the deduction through the end of 2017. It is an “above the line deduction,” meaning that taxpayers don’t have to itemize to take it.”

For additional information please refer to this attached article: Don’t Forget These College Tax Benefits This Filing Season