Tax Bill Aims To Make Education Credits Less Spooky

Law360, New York (October 31, 2013, 3:58 PM EDT) -- A bipartisan bill introduced Wednesday would combine four separate tax provisions into one less-intimidating measure so taxpayers can more easily enjoy benefits from educational purchases, the bill's co-writers said.

The Student and Family Tax Simplification Act, introduced by Diane Black, R-Tenn., and Danny K. Davis, D-Ill., combined four existing education provisions into a newly defined American Opportunity Tax Credit.

It combines the current version of that tax credit with the Hope Credit, the Lifetime Learning Credit and the tuition deduction. The reforms will make tax credits...
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