Higher Education Tax Benefits
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There are several money-saving tax benefits available to taxpayers.* The IRS
offers various tax savings to individuals and families who are paying for
higher education.
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Tax deductions reduce the amount of income subject to tax before the tax is
calculated
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Tax credits reduce the amount of income tax after the tax is calculated
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The ability to claim tax deductions and credits are phased out at varying
income levels
You should consult your tax advisor to see what tax benefits are available for
you. To learn more, contact the IRS directly or consult the IRS Publication 970
on Tax Benefits for Education. Call 1-800-829-3676 or visit
www.irs.gov .
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