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Tax act online 19. Tax act online   Education- Related Adjustments Table of Contents Introduction Useful Items - You may want to see: Student Loan Interest DeductionStudent Loan Interest Defined Can You Claim the Deduction How Much Can You Deduct How Do You Figure the Deduction Tuition and Fees DeductionCan You Claim the Deduction What Expenses Qualify Who Is an Eligible Student Who Can Claim a Dependent's Expenses How Much Can You Deduct Educator Expenses Introduction This chapter discusses the education-related adjustment you can deduct in figuring your adjusted gross income. Tax act online This chapter covers the student loan interest deduction, tuition and fees deduction, and the deduction for educator expenses. Tax act online Useful Items - You may want to see: Publication 970 Tax Benefits for Education Student Loan Interest Deduction Generally, personal interest you pay, other than certain mortgage interest, is not deductible on your tax return. Tax act online However, if your modified adjusted gross income (MAGI) is less than $75,000 ($155,000 if filing a joint return) there is a special deduction allowed for paying interest on a student loan (also known as an education loan) used for higher education. Tax act online For most taxpayers, MAGI is the adjusted gross income as figured on their federal income tax return before subtracting any deduction for student loan interest. Tax act online This deduction can reduce the amount of your income subject to tax by up to $2,500 in 2013. Tax act online Table 19-1 summarizes the features of the student loan interest deduction. Tax act online Table 19-1. Tax act online Student Loan Interest Deduction at a Glance Do not rely on this table alone. Tax act online Refer to the text for more details. Tax act online Feature Description Maximum benefit You can reduce your income subject to tax by up to $2,500. Tax act online Loan qualifications Your student loan: •  must have been taken out solely to pay qualified education expenses, and   • cannot be from a related person or made under a qualified employer plan. Tax act online Student qualifications The student must be: • you, your spouse, or your dependent, and   • enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential at an eligible educational institution. Tax act online Time limit on deduction You can deduct interest paid during the remaining period of your student loan. Tax act online Phaseout The amount of your deduction depends on your income level. Tax act online Student Loan Interest Defined Student loan interest is interest you paid during the year on a qualified student loan. Tax act online It includes both required and voluntary interest payments. Tax act online Qualified Student Loan This is a loan you took out solely to pay qualified education expenses (defined later) that were: For you, your spouse, or a person who was your dependent (defined in chapter 3) when you took out the loan, Paid or incurred within a reasonable period of time before or after you took out the loan, and For education provided during an academic period when the student is an eligible student. Tax act online Loans from the following sources are not qualified student loans. Tax act online A related person. Tax act online A qualified employer plan. Tax act online Exceptions. Tax act online   For purposes of the student loan interest deduction, the following are exceptions to the general rules for dependents. Tax act online An individual can be your dependent even if you are the dependent of another taxpayer. Tax act online An individual can be your dependent even if the individual files a joint return with a spouse. Tax act online An individual can be your dependent even if the individual had gross income for the year that was equal to or more than the exemption amount for the year ($3,900 for 2013). Tax act online    Reasonable period of time. Tax act online   Qualified education expenses are treated as paid or incurred within a reasonable period of time before or after you take out the loan if they are paid with the proceeds of student loans that are part of a federal postsecondary education loan program. Tax act online   Even if not paid with the proceeds of that type of loan, the expenses are treated as paid or incurred within a reasonable period of time if both of the following requirements are met. Tax act online The expenses relate to a specific academic period. Tax act online The loan proceeds are disbursed within a period that begins 90 days before the start of that academic period and ends 90 days after the end of that academic period. Tax act online   If neither of the above situations applies, the reasonable period of time is determined based on all the relevant facts and circumstances. Tax act online Academic period. Tax act online   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Tax act online In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Tax act online Eligible student. Tax act online   This is a student who was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential. Tax act online Enrolled at least half-time. Tax act online   A student was enrolled at least half-time if the student was taking at least half the normal full-time work load for his or her course of study. Tax act online   The standard for what is half of the normal full-time work load is determined by each eligible educational institution. Tax act online However, the standard may not be lower than any of those established by the U. Tax act online S. Tax act online Department of Education under the Higher Education Act of 1965. Tax act online Related person. Tax act online   You cannot deduct interest on a loan you get from a related person. Tax act online Related persons include: Your spouse, Your brothers and sisters, Your half brothers and half sisters, Your ancestors (parents, grandparents, etc. Tax act online ), Your lineal descendants (children, grandchildren, etc. Tax act online ), and Certain corporations, partnerships, trusts, and exempt organizations. Tax act online Qualified employer plan. Tax act online   You cannot deduct interest on a loan made under a qualified employer plan or under a contract purchased under such a plan. Tax act online Qualified Education Expenses For purposes of the student loan interest deduction, these expenses are the total costs of attending an eligible educational institution, including graduate school. Tax act online They include amounts paid for the following items. Tax act online Tuition and fees. Tax act online Room and board. Tax act online Books, supplies, and equipment. Tax act online Other necessary expenses (such as transportation). Tax act online The cost of room and board qualifies only to the extent that it is not more than: The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student, or If greater, the actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Tax act online Eligible educational institution. Tax act online   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Tax act online S. Tax act online Department of Education. Tax act online It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Tax act online   Certain educational institutions located outside the United States also participate in the U. Tax act online S. Tax act online Department of Education's Federal Student Aid (FSA) programs. Tax act online   For purposes of the student loan interest deduction, an eligible educational institution also includes an institution conducting an internship or residency program leading to a degree or certificate from an institution of higher education, a hospital, or a health care facility that offers postgraduate training. Tax act online   An educational institution must meet the above criteria only during the academic period(s) for which the student loan was incurred. Tax act online The deductibility of interest on the loan is not affected by the institution's subsequent loss of eligibility. Tax act online    The educational institution should be able to tell you if it is an eligible educational institution. Tax act online Adjustments to qualified education expenses. Tax act online   You must reduce your qualified education expenses by certain tax-free items (such as the tax-free part of scholarships and fellowships). Tax act online See chapter 4 of Publication 970 for details. Tax act online Include as Interest In addition to simple interest on the loan, certain loan origination fees, capitalized interest, interest on revolving lines of credit, and interest on refinanced student loans can be student loan interest if all other requirements are met. Tax act online Loan origination fee. Tax act online   In general, this is a one-time fee charged by the lender when a loan is made. Tax act online To be deductible as interest, the fee must be for the use of money rather than for property or services (such as commitment fees or processing costs) provided by the lender. Tax act online A loan origination fee treated as interest accrues over the life of the loan. Tax act online Capitalized interest. Tax act online    This is unpaid interest on a student loan that is added by the lender to the outstanding principal balance of the loan. Tax act online Interest on revolving lines of credit. Tax act online   This interest, which includes interest on credit card debt, is student loan interest if the borrower uses the line of credit (credit card) only to pay qualified education expenses. Tax act online See Qualified Education Expenses , earlier. Tax act online Interest on refinanced student loans. Tax act online   This includes interest on both: Consolidated loans—loans used to refinance more than one student loan of the same borrower, and Collapsed loans—two or more loans of the same borrower that are treated by both the lender and the borrower as one loan. Tax act online If you refinance a qualified student loan for more than your original loan and you use the additional amount for any purpose other than qualified education expenses, you cannot deduct any interest paid on the refinanced loan. Tax act online Voluntary interest payments. Tax act online   These are payments made on a qualified student loan during a period when interest payments are not required, such as when the borrower has been granted a deferment or the loan has not yet entered repayment status. Tax act online Do Not Include as Interest You cannot claim a student loan interest deduction for any of the following items. Tax act online Interest you paid on a loan if, under the terms of the loan, you are not legally obligated to make interest payments. Tax act online Loan origination fees that are payments for property or services provided by the lender, such as commitment fees or processing costs. Tax act online Interest you paid on a loan to the extent payments were made through your participation in the National Health Service Corps Loan Repayment Program (the “NHSC Loan Repayment Program”) or certain other loan repayment assistance programs. Tax act online For more information, see Student Loan Repayment Assistance in chapter 5 of Publication 970. Tax act online Can You Claim the Deduction Generally, you can claim the deduction if all of the following requirements are met. Tax act online Your filing status is any filing status except married filing separately. Tax act online No one else is claiming an exemption for you on his or her tax return. Tax act online You are legally obligated to pay interest on a qualified student loan. Tax act online You paid interest on a qualified student loan. Tax act online Interest paid by others. Tax act online   If you are the person legally obligated to make interest payments and someone else makes a payment of interest on your behalf, you are treated as receiving the payments from the other person and, in turn, paying the interest. Tax act online See chapter 4 of Publication 970 for more information. Tax act online No Double Benefit Allowed You cannot deduct as interest on a student loan any amount that is an allowable deduction under any other provision of the tax law (for example, home mortgage interest). Tax act online How Much Can You Deduct Your student loan interest deduction for 2013 is generally the smaller of: $2,500, or The interest you paid in 2013. Tax act online However, the amount determined above is phased out (gradually reduced) if your MAGI is between $60,000 and $75,000 ($125,000 and $155,000 if you file a joint return). Tax act online You cannot take a student loan interest deduction if your MAGI is $75,000 or more ($155,000 or more if you file a joint return). Tax act online For details on figuring your MAGI, see chapter 4 of Publication 970. Tax act online How Do You Figure the Deduction Generally, you figure the deduction using the Student Loan Interest Deduction Worksheet in the Form 1040 or Form 1040A instructions. Tax act online However, if you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from sources within Puerto Rico, you must complete Worksheet 4-1 in chapter 4 of Publication 970. Tax act online To help you figure your student loan interest deduction, you should receive Form 1098-E, Student Loan Interest Statement. Tax act online Generally, an institution (such as a bank or governmental agency) that received interest payments of $600 or more during 2013 on one or more qualified student loans must send Form 1098-E (or acceptable substitute) to each borrower by January 31, 2014. Tax act online For qualified student loans taken out before September 1, 2004, the institution is required to include on Form 1098-E only payments of stated interest. Tax act online Other interest payments, such as certain loan origination fees and capitalized interest, may not appear on the form you receive. Tax act online However, if you pay qualifying interest that is not included on Form 1098-E, you can also deduct those amounts. Tax act online For information on allocating payments between interest and principal, see chapter 4 of Publication 970. Tax act online To claim the deduction, enter the allowable amount on Form 1040, line 33, or Form 1040A, line 18. Tax act online Tuition and Fees Deduction You may be able to deduct qualified education expenses paid during the year for yourself, your spouse, or your dependent(s). Tax act online You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. Tax act online The qualified expenses must be for higher education, as explained later under What Expenses Qualify . Tax act online The tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000. Tax act online Table 19-2 summarizes the features of the tuition and fees deduction. Tax act online You may be able to take a credit for your education expenses instead of a deduction. Tax act online You can choose the one that will give you the lower tax. Tax act online See chapter 35, Education Credits, for details about the credits. Tax act online Can You Claim the Deduction The following rules will help you determine if you can claim the tuition and fees deduction. Tax act online Who Can Claim the Deduction Generally, you can claim the tuition and fees deduction if all three of the following requirements are met. Tax act online You paid qualified education expenses of higher education in 2013 for academic periods beginning in 2013 and those beginning in the first three months of 2014. Tax act online You paid the education expenses for an eligible student. Tax act online The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption (defined in chapter 3) on your tax return. Tax act online Qualified education expenses are defined under What Expenses Qualify . Tax act online Eligible students are defined later under Who Is an Eligible Student . Tax act online Who Cannot Claim the Deduction You cannot claim the tuition and fees deduction if any of the following apply. Tax act online Your filing status is married filing separately. Tax act online Another person can claim an exemption for you as a dependent on his or her tax return. Tax act online You cannot take the deduction even if the other person does not actually claim that exemption. Tax act online Your modified adjusted gross income (MAGI) is more than $80,000 ($160,000 if filing a joint return). Tax act online You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. Tax act online More information on nonresident aliens can be found in Publication 519, U. Tax act online S. Tax act online Tax Guide for Aliens. Tax act online You or anyone else claims an American opportunity or lifetime learning credit in 2013 with respect to expenses of the student for whom the qualified education expenses were paid. Tax act online However, a state tax credit will not disqualify you from claiming a tuition and fees deduction. Tax act online Table 19-2. Tax act online Tuition and Fees Deduction at a Glance Do not rely on this table alone. Tax act online Refer to the text for more details. Tax act online Question   Answer What is the maximum benefit?   You can reduce your income subject to tax by up to $4,000. Tax act online Where is the deduction taken?   As an adjustment to income on Form 1040, line 34, or Form 1040A, line 19. Tax act online For whom must the expenses be paid?   A student enrolled in an eligible educational institution who is either: you, your spouse, or your dependent for whom you claim an exemption. Tax act online What tuition and fees are deductible?   Tuition and fees required for enrollment or attendance at an eligible postsecondary educational institution, but not including personal, living, or family expenses, such as room and board. Tax act online What Expenses Qualify The tuition and fees deduction is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Tax act online Generally, the deduction is allowed for qualified education expenses paid in 2013 in connection with enrollment at an institution of higher education during 2013 or for an academic period (defined earlier under Student Loan Interest Deduction ) beginning in 2013 or in the first 3 months of 2014. Tax act online Payments with borrowed funds. Tax act online   You can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan. Tax act online Use the expenses to figure the deduction for the year in which the expenses are paid, not the year in which the loan is repaid. Tax act online Treat loan payments sent directly to the educational institution as paid on the date the institution credits the student's account. Tax act online Student withdraws from class(es). Tax act online   You can claim a tuition and fees deduction for qualified education expenses not refunded when a student withdraws. Tax act online Qualified Education Expenses For purposes of the tuition and fees deduction, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Tax act online Eligible educational institution. Tax act online   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Tax act online S. Tax act online Department of Education. Tax act online It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Tax act online The educational institution should be able to tell you if it is an eligible educational institution. Tax act online   Certain educational institutions located outside the United States also participate in the U. Tax act online S. Tax act online Department of Education's Federal Student Aid (FSA) programs. Tax act online Academic period. Tax act online    An academic period is any quarter, semester, trimester, or any other period of study as reasonably determined by an eligible educational institution. Tax act online If an eligible educational institution uses credit hours and does not have academic terms, each payment period may be treated as an academic period. Tax act online Related expenses. Tax act online   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses for the tuition and fees deduction only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. Tax act online Prepaid expenses. Tax act online   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring the tuition and fees deduction. Tax act online See Academic period, earlier. Tax act online For example, if you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring the tuition and fees deduction for 2013 only if you meet all the other requirements. Tax act online    You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 tuition and fees deduction. Tax act online No Double Benefit Allowed You cannot do any of the following. Tax act online Deduct qualified education expenses you deduct under any other provision of the law, for example, as a business expense. Tax act online Deduct qualified education expenses for a student on your income tax return if you or anyone else claims an American opportunity or lifetime learning credit for that same student in the same year. Tax act online Deduct qualified education expenses that have been used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or a qualified tuition program (QTP). Tax act online For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. Tax act online See Figuring the Taxable Portion of a Distribution in chapter 7 (Coverdell ESA) and chapter 8 (QTP) of Publication 970. Tax act online Deduct qualified education expenses that have been paid with tax-free interest on U. Tax act online S. Tax act online savings bonds (Form 8815). Tax act online See Figuring the Tax-Free Amount in chapter 10 of Publication 970. Tax act online Deduct qualified education expenses that have been paid with tax-free educational assistance such as a scholarship, grant, or employer-provided educational assistance. Tax act online See Adjustments to qualified education expenses, later. Tax act online Adjustments to qualified education expenses. Tax act online   For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. Tax act online The result is the amount of adjusted qualified education expenses for each student. Tax act online Tax-free educational assistance. Tax act online   For tax-free educational assistance you received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance to that academic period. Tax act online See Academic period, earlier. Tax act online   This includes: The tax-free part of scholarships and fellowships, including Pell grants (see chapter 1 of Publication 970), The tax-free part of any employer-provided educational assistance (see chapter 11 of Publication 970), Veterans' educational assistance (see chapter 1 of Publication 970), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Tax act online Generally, any scholarship or fellowship you receive is treated as tax-free educational assistance. Tax act online However, a scholarship or fellowship is not treated as tax-free educational assistance to the extent you include it in gross income (if you are required to file a tax return) for the year the scholarship or fellowship is received and either: The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. Tax act online 970, chapter 1. Tax act online The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. Tax act online 970, chapter 1. Tax act online You may be able to increase the combined value of your tuition and fees deduction and certain educational assistance if you include some or all of the educational assistance in income in the year it is received. Tax act online For details, see Adjustments to Qualified Education Expenses in chapter 6 of Pub. Tax act online 970. Tax act online Some tax-free educational assistance received in 2013 may be treated as a refund of qualified education expenses paid in 2013. Tax act online This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). Tax act online If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed, later. Tax act online If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed, later. Tax act online Refunds. Tax act online   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or may require you to include some or all of the refund in your gross income for the year the refund is received. Tax act online See chapter 6 of Pub. Tax act online 970 for more information. Tax act online Some tax-free educational assistance received after 2013 may be treated as a refund. Tax act online See Tax-free educational assistance, earlier. Tax act online Refunds received in 2013. Tax act online    For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses paid in 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. Tax act online Refunds received after 2013 but before your income tax return is filed. Tax act online   If you receive a refund after 2013 of qualified education expenses you paid in 2013 and the refund is received before you file your 2013 income tax return, reduce the amount of qualified education expenses for 2013 by the amount of the refund. Tax act online Refunds received after 2013 and after your income tax return is filed. Tax act online   If you receive a refund after 2013 of qualified education expenses you paid in 2013 and the refund is received after you file your 2013 income tax return, you may need to include some or all of the refund in your gross income for the year the refund is received. Tax act online See chapter 6 of Pub. Tax act online 970 for more information. Tax act online Coordination with Coverdell education savings accounts and qualified tuition programs. Tax act online    Reduce your qualified education expenses by any qualified education expenses used to figure the exclusion from gross income of (a) interest received under an education savings bond program, or (b) any distribution from a Coverdell education savings account or qualified tuition program (QTP). Tax act online For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. Tax act online Amounts that do not reduce qualified education expenses. Tax act online   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. Tax act online   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. Tax act online The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses. Tax act online The use of the money is not restricted. Tax act online Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. Tax act online This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Tax act online Sports, games, hobbies, and noncredit courses. Tax act online   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. Tax act online However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. Tax act online Comprehensive or bundled fees. Tax act online   Some eligible educational institutions combine all of their fees for an academic period into one amount. Tax act online If you do not receive, or do not have access to, an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed above, contact the institution. Tax act online The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T, Tuition Statement. Tax act online See How Do You Figure the Deduction , later, for more information about Form 1098-T. Tax act online Who Is an Eligible Student For purposes of the tuition and fees deduction, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (defined earlier). Tax act online Who Can Claim a Dependent's Expenses Generally, in order to claim the tuition and fees deduction for qualified education expenses for a dependent, you must: Have paid the expenses, and Claim an exemption for the student as a dependent. Tax act online Table 19-3 summarizes who can claim the deduction. Tax act online How Much Can You Deduct The maximum tuition and fees deduction in 2013 is $4,000, $2,000, or $0, depending on the amount of your MAGI. Tax act online For details on figuring your MAGI, see chapter 6 of Publication 970. Tax act online How Do You Figure the Deduction Figure the deduction using Form 8917. Tax act online To help you figure your tuition and fees deduction, you should receive Form 1098-T, Tuition Statement. Tax act online Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. Tax act online To claim the deduction, enter the allowable amount on Form 1040, line 34, or Form 1040A, line 19, and attach your completed Form 8917. Tax act online Table 19-3. Tax act online Who Can Claim a Dependent's Expenses Do not rely on this table alone. Tax act online See Who Can Claim a Dependent's Expenses in chapter 6 of Publication 970. Tax act online IF your dependent is an eligible student and you. Tax act online . Tax act online . Tax act online AND. Tax act online . Tax act online . Tax act online THEN. Tax act online . Tax act online . Tax act online claim an exemption for your dependent you paid all qualified education expenses for your dependent only you can deduct the qualified education expenses that you paid. Tax act online Your dependent cannot take a deduction. Tax act online claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Tax act online do not claim an exemption for your dependent you paid all qualified education expenses no one is allowed to take a deduction. Tax act online do not claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Tax act online Educator Expenses If you were an eligible educator in 2013, you can deduct on Form 1040, line 23, or Form 1040A, line 16, up to $250 of qualified expenses you paid in 2013. Tax act online If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. Tax act online However, neither spouse can deduct more than $250 of his or her qualified expenses on Form 1040, line 23, or Form 1040A, line 16. Tax act online You may be able to deduct expenses that are more than the $250 (or $500) limit on Schedule A (Form 1040), line 21. Tax act online Eligible educator. Tax act online   An eligible educator is a kindergarten through grade 12 teacher, instructor, counselor, principal, or aide who worked in a school for at least 900 hours during a school year. Tax act online Qualified expenses. Tax act online   Qualified expenses include ordinary and necessary expenses paid in connection with books, supplies, equipment (including computer equipment, software, and services), and other materials used in the classroom. Tax act online An ordinary expense is one that is common and accepted in your educational field. Tax act online A necessary expense is one that is helpful and appropriate for your profession as an educator. Tax act online An expense does not have to be required to be considered necessary. Tax act online   Qualified expenses do not include expenses for home schooling or for nonathletic supplies for courses in health or physical education. Tax act online   You must reduce your qualified expenses by the following amounts. Tax act online Excludable U. Tax act online S. Tax act online series EE and I savings bond interest from Form 8815. Tax act online See Figuring the Tax-Free Amount in chapter 10 of Publication 970. Tax act online Nontaxable qualified tuition program earnings or distributions. Tax act online See Figuring the Taxable Portion of a Distribution in chapter 8 of Publication 970. Tax act online Nontaxable distribution of earnings from a Coverdell education savings account. Tax act online See Figuring the Taxable Portion of a Distribution in chapter 7 of Publication 970. Tax act online Any reimbursements you received for these expenses that were not reported to you in box 1 of your Form W-2. Tax act online Prev  Up  Next   Home   More Online Publications
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Federal Payment Levy Program

In July 2000, the IRS, in conjunction with the Department of the Treasury, Financial Management Service (FMS), started the Federal Payment Levy Program (FPLP) which is authorized by Internal Revenue Code Section 6331 (h), as prescribed by the Taxpayer Relief Act of 1997 Section 1024. Through this program, we can collect your overdue taxes through a continuous levy on certain federal payments disbursed by FMS. The following is a list of federal payments that can be levied through the FPLP:

  • federal employee retirement annuities,
  • federal payments made to you as a contractor/vendor doing business with the government (including Defense contracts),
  • federal employee travel advances or reimbursements,
  • certain Social Security benefits paid to you,
  • some federal salaries, 
  • Medicare provider and supplier payments.
  • Railroad Retirement Board benefits paid to you.

In the future, the program will expand to include additional federal employee salaries and other types of federal payments.

Federal payments to a delinquent taxpayer will not be included in the program in certain circumstances. These circumstances include, when you are in bankruptcy, have applied for relief as an innocent or injured spouse, made alternative arrangements to pay, or the IRS has determined you are in a hardship situation.

As part of this program, a file of delinquent accounts is transmitted to FMS to be matched against pending federal payments you are due. When a match is found, we send you a Final Notice - Notice of Intent to Levy and Notice of Your Right to a Hearing, CP 90 or CP 297, if another Final Notice has not already been issued. See Tax Information for Appeals for additional information about your right to a hearing.

If we don't hear from you within 30 days from the date of the Final Notice, we will transmit the levy electronically to FMS. This applies to all federal payments that can be levied except for certain Social Security benefits. See Publication 594, The IRS Collection Process, and Publication 1, Your Rights as a Taxpayer , for additional information.

A levy may be transmitted to FMS without issuing a Final Notice if you previously requested a Collection Due Process (CDP) hearing on employment taxes. The Small Business and Work Opportunity Tax Act of 2007 amended I.R.C. Section 6330(f) and permits such a levy. If you requested a CDP hearing on previous employment taxes NO MORE THAN 2 years prior to the employment taxes being levied, we will send you a Notice of Levy and Notice of Your Right to a Hearing, CP 297A.

A levy may be transmitted to FMS without issuing a Final Notice if you or your predecessor is a Federal contractor.The Small Business Jobs Act of 2010 amended IRC Section 6330(f) and permits the IRS to issue such a levy.  We will send you a post levy notice, Notice of Levy and Notice of Your Right to a Hearing, CP 90C or CP 297C.

From that point on, FMS may reduce any federal payments subject to the levy by 15 percent, or the exact amount of tax owed if it is less than 15 percent of the payment.  Some contract/vendor payments, however, will be reduced by 100 percent, or the exact amount of tax owed. The levy is continuous until your overdue taxes are paid in full, or other arrangements are made to satisfy the debt. Each time your federal payment is levied, FMS will send you a letter of explanation, including information on which federal payment was levied, and advise you to contact us for resolution.

Contact us toll-free at 1-800-829-7650 or 1-800-829-3903 to resolve the issue by paying the tax bill, entering into an installment agreement, or proposing an Offer in Compromise. Please do not contact the FMS, OPM, SSA, or any other federal agency. See Topic 202, What to Do if You Can't Pay Your Tax, and Topic 204, Offers In Compromise, for additional information.

 

Page Last Reviewed or Updated: 07-Jan-2014

The Tax Act Online

Tax act online Part Four -   Ajustes a los Ingresos Los tres capítulos de esta sección abordan algunos de los ajustes a los ingresos que puede deducir al calcular el ingreso bruto ajustado. Tax act online Estos capítulos abarcan: Aportaciones a arreglos tradicionales de ahorros para la jubilación (IRA, por sus siglas en inglés), el capítulo 17 , Pensión para el cónyuge divorciado que paga, el capítulo 18 e Intereses sobre préstamos de estudios que usted paga, el capítulo 19 . Tax act online Otros ajustes a los ingresos se explican en otras partes de esta publicación o en otras publicaciones. Tax act online Vea la Tabla V que aparece a continuación. Tax act online Tabla V. Tax act online Otros Ajustes a los Ingresos  Utilice esta tabla para buscar información acerca de otros ajustes a los ingresos no abarcados en esta sección de la publicación. Tax act online SI busca más información sobre la deducción por. Tax act online . Tax act online . Tax act online ENTONCES vea. Tax act online . Tax act online . Tax act online Determinados gastos de negocio de personal en reserva de las Fuerzas Armadas, artistas del espectáculo y funcionarios que prestan servicios por honorarios el capítulo 26 . Tax act online Aportaciones a cuentas de ahorros para gastos médicos la Publicación 969, Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para gastos médicos y otros planes para la salud con beneficios tributarios), en inglés. Tax act online Gastos de mudanza la Publicación 521, Moving Expenses (Gastos de mudanza), en inglés. Tax act online Una porción del impuesto sobre el trabajo por cuenta propia el capítulo 22 . Tax act online Seguro médico para personas que trabajan por cuenta propia el capítulo 21 . Tax act online Pagos a planes SEP, SIMPLE y planes calificados para personas que trabajan por cuenta propia la Publicación 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans) (Planes de jubilación para pequeños negocios (SEP, SIMPLE y planes calificados)), en inglés. Tax act online Multa por retiro prematuro de ahorros el capítulo 7 . Tax act online Aportaciones a un plan de ahorros médicos Archer (MSA, por sus siglas en inglés) la Publicación 969, en inglés. Tax act online Amortización o gasto de reforestación los capítulos 7 y 8 de la Publicación 535, Business Expenses (Gastos de negocios), en inglés. Tax act online Aportaciones a planes de pensiones conforme a la sección 501(c)(18)(D) del Código Federal de Impuestos Internos la Publicación 525, Taxable and Nontaxable Income (Ingreso tributable y no tributable), en inglés. Tax act online Gastos procedentes del alquiler de bienes muebles el capítulo 12 . Tax act online Determinados reintegros obligatorios de prestaciones suplementarias por desempleo (sub-pago) el capítulo 12 . Tax act online Gastos por concepto de vivienda en el extranjero el capítulo 4 de la Publicación 54, Tax Guide for U. Tax act online S. Tax act online Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos estadounidenses y extranjeros residentes que viven en el extranjero), en inglés. Tax act online Pago de servicio de juraduría que se le haya entregado a su empleador el capítulo 12 . Tax act online Aportaciones hechas por determinados capellanes a planes conforme a la sección 403(b) del Código Federal de Impuestos Internos la Publicación 517, Social Security and Other Information for Members of the Clergy and Religious Workers (Seguro Social y otra información para miembros del clero y empleados religiosos), en inglés. Tax act online Honorarios de abogado y determinados costos por acciones legales con respecto a reclamaciones por discriminación ilegal y premios a denunciantes dentro de su propia empresa la Publicación 525, en inglés. Tax act online Deducción por actividades de producción nacional el Formulario 8903, Domestic Production Activities Deduction (Deducción por actividades de producción nacional), en inglés. Tax act online Table of Contents 17. Tax act online   Arreglos de Ahorros para la Jubilación (Arreglos IRA)Qué Hay de Nuevo en el Año 2013 Recordatorios Introduction Useful Items - You may want to see: Arreglos IRA Tradicionales¿Quién Puede Abrir un Arreglo IRA Tradicional? ¿Cuándo y Cómo se Puede Abrir un Arreglo IRA Tradicional? ¿Cuánto se Puede Aportar? ¿Cuándo se Pueden Hacer Aportaciones? ¿Cuánto se Puede Deducir? Aportaciones no Deducibles Arreglos IRA Heredados ¿Puede Traspasar Activos de un Plan de Jubilación? ¿Cuándo Puede Retirar o Utilizar Activos de un Arreglo IRA? ¿Cuándo Tiene que Retirar Activos de un Arreglo IRA? (Distribuciones Mínimas Obligatorias) ¿Están Sujetas a Impuestos las Distribuciones? ¿Qué Acciones Dan Lugar a Multas o Impuestos Adicionales? Arreglos Roth IRA ¿Qué Es un Arreglo Roth IRA? ¿Cuándo se Puede Abrir un Arreglo Roth IRA? ¿Puede Hacer Aportaciones a un Arreglo Roth IRA? ¿Se Pueden Trasladar Activos a un Arreglo Roth IRA? ¿Están Sujetas a Impuestos las Distribuciones? 18. Tax act online   Pensión para el Cónyuge DivorciadoIntroductionCónyuge o ex cónyuge. Tax act online Documento (instrumento) de divorcio o separación judicial. Tax act online Useful Items - You may want to see: Reglas GeneralesPagos hipotecarios. Tax act online Impuestos y seguro. Tax act online Otros pagos a terceros. Tax act online Documentos Firmados Después de 1984Pagos a terceros. Tax act online Excepción. Tax act online Pagos sustitutivos. Tax act online Específicamente designado como pensión para hijos menores. Tax act online Contingencia relacionada con su hijo. Tax act online Pago claramente asociado con una contingencia. Tax act online Cómo Deducir la Pensión para el Cónyuge Divorciado que Pagó Cómo Declarar la Pensión para el Cónyuge Divorciado Recibida Regla de Recuperación 19. Tax act online   Ajustes Tributarios por EstudiosIntroduction Useful Items - You may want to see: Deducción por Intereses sobre Préstamos de EstudiosDefinición de los Intereses sobre Préstamos de Estudios ¿Puede Reclamar la Deducción? ¿Cuánto Puede Deducir? ¿Cómo Calcular la Deducción? Deducción por Matrícula y Cuotas Escolares¿Puede Reclamar la Deducción? Gastos que Califican Estudiante que Reúne los Requisitos Quién Puede Reclamar los Gastos de un Dependiente Cuánto se Puede Deducir Gastos del Educador Prev  Up  Next   Home   More Online Publications