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INTERNAL REVENUE SERVICE
IRS Home page
TAXPAYER RELIEF ACT OF 1997
Highlights of Taxpayer Relief Act of 1997 and Balanced Budget Act signed by Congress in August 1997.

COVERDELL EDUCATION SAVINGS ACCOUNTS (Formerly Education IRAs)
Contribution to an Education IRA for the purpose of paying the qualified higher education expenses of a designated beneficiary.

IRS PUBLICATION 970
Informational overview of the higher education tax incentives included in the Taxpayer Relief Act of 1997

EDUCATION SAVINGS BOND PROGRAM
Possible exclusion of interest income from savings bonds used to payer higher education expenses.

HOPE CREDIT
Non-refundable tax credit for qualified tuition expenses paid in the first two years of post-secondary education to an eligible educational institution

WITHDRAWALS FROM TRADITIONAL or ROTH IRAs
Withdrawals from your IRA before age 59 1/2 for qualified higher education expenses may be exempt from the 10% additional tax on early withdrawals
LIFETIME LEARNING CREDIT
Non-refundable tax credit for qualified tuition expenses paid to an eligible educational institution

QUALIFIED STATE TUITION PROGRAM
Prepaid tuition programs for higher education and their tax implications.

STUDENT LOAN INTEREST DEDUCTION
Deduction available only on student loan interest paid during the first 60 months in which interest payments are required

NEW DEDUCTION FOR HIGHER EDUCATION EXPENSE New deduction for tax years 2002-2005

EMPLOYER-PROVIDED EDUCATIONAL ASSISTANCE
Tax-free higher education benefits paid by an employer.

TAX LAW CHANGES
Important tax law changes.

Click on the following for more information on:

Hope Credit

Lifetime Learning Credit

Student Loan Interest Deduction

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