The federal government offers two tax credits that reduce your tax bill on a dollar-for-dollar basis for your school-related expenses—the American Opportunity credit and the Lifetime Learning credit. To find out more, see the full TurboTax article.
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In an era of massive income inequality, it would be hard to justify making anyone pay higher taxes so the federal government could send $12,000 a year to Jeff Bezos, Warren Buffett and other billionaires. Our view.Opposing view.