Drake Software blog for tax pros, covering tax, IRS news, and more

Drake Software Blog Team

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It’s Back-to-School Season: Help Clients with Tax Tips and Education Credits

It’s Back-to-School Season: Help Clients with Tax Tips and Education Credits

Two of the most widely used credits — the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) — may offer significant opportunities to reduce a client’s federal income tax liability. This article provides an overview of these credits, including qualified expenses, income limits, institutional reporting requirements, and common filing issues — so you can better support your clients this back-to-school season and beyond.…

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