In order to raise the awareness of students and their families, the US Treasury Department has published a fact sheet to educate colleges and universities, tax preparers, software providers and other stakeholders, on the complex rules addressing education-related tax benefits. The Internal Revenue Service’s information has available on its website, and is working to add questions and answers to provide further guidance. It issues an updated version each year of Publication 970, “Tax Benefits for Education,” which is intended to help taxpayers and their agents to prepare the relevant forms.
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