IMPORTANT UPDATES!!!

 EDUCATION CREDITS:

Use Form 8863 to figure and claim your education credits, which are based on qualified education expenses paid to an eligible postsecondary educational institution. There are two education credits.

  • The American Opportunity Credit, part of which may be refundable.
  • The Lifetime Learning Credit, which is nonrefundable.

What Is a Tax Credit?

Subtract tax credits from the amount of tax you owe. There are two types of tax credits:

  • A nonrefundable tax credit means you get a refund only up to the amount you owe.
  • A refundable tax credit means you get a refund, even if it’s more than what you owe.

What Is a Tax Deduction?

Subtract tax deductions from your income before you figure the amount of tax you owe.

GET YOUR TAX RECORD FROM THE IRS WEBSITE:

PAY YOUR TAXES ON LINE: