Six Weeks To Claim Education Tax Credit

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Mar 05, 2010, 03:25 ET

Congressman Chaka Fattah says $2,500 could be waiting for you.

WASHINGTON, March 5 /PRNewswire-USNewswire/ -- Congressman Chaka Fattah (D-PA) reminds college students to act now to claim up to $2,500 in education tax credits for their 2009 higher education expenses. Fattah authored the American Opportunity Tax Credit legislation which was included in President Obama's American Recovery and Reinvestment Act to help low and moderate income students realize their dream of a college education.

Under the AOTC, students would receive help to cover expenses including tuition, books, fees and other direct higher-education costs. Tuition and other expenses covered by scholarships or grants however, are not eligible for financial assistance under AOTC.

"Everyone should have the opportunity to achieve a college education," said Fattah. "The American Opportunity Tax Credit is a considerable offering to ensure that those who need financial help receive that help."

The $14 billion tax credit allows students -- or their parents -- to reduce their 2009 federal income taxes by $2,500. The credit is partially refundable – even those who don't make enough money to pay taxes can get a refund from the IRS.

Students and parents should visit the IRS website at www.irs.gov/recovery for complete details about the American Opportunity Tax Credit. Free help with tax preparation can be found at http://www.thebenefitbank.com and www.phillyfreetaxes.org or other Philadelphia-based non-profit organizations, this information is a courtesy to residents of the Second Congressional District.

www.house.gov/fattah

SOURCE Office of Congressman Chaka Fattah