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As Package Of Tax Breaks Expires, Tuition Deduction In Limbo

14 January 2014 2 views No Comment

At the stroke of midnight on Dec. 31, a group of 55 tax breaks commonly known as the “extenders package” expired. Though technically temporary, each of these tax provisions has been repeatedly extended in past years. This time seems to be an exception to that practice, as there is little movement in Congress to retroactively extend these tax breaks, and there is no immediately obvious piece of legislation to serve as a vehicle for such an extension. The expired credit most pertinent to higher education financing is the “Above-the-Line Deduction for Qualified Tuition and Related Expenses.”


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Home » Financial Aid, News, Scholarships, Student Loans

As Package Of Tax Breaks Expires, Tuition Deduction In Limbo

14 January 2014 0 views No Comment

At the stroke of midnight on Dec. 31, a group of 55 tax breaks commonly known as the “extenders package” expired. Though technically temporary, each of these tax provisions has been repeatedly extended in past years. This time seems to be an exception to that practice, as there is little movement in Congress to retroactively extend these tax breaks, and there is no immediately obvious piece of legislation to serve as a vehicle for such an extension. The expired credit most pertinent to higher education financing is the “Above-the-Line Deduction for Qualified Tuition and Related Expenses.”


Financial Aid News is sponsored in part by:


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You must be logged in to post a comment.