Tax returns claiming education credits on hold until mid-February

The IRS says it is updating its processing system so the form 8863 can be processed.

The form allows you to claim two higher education credits: the American Opportunity Tax Credit and the Lifetime Learning Credit.

They say the system will not be ready until middle of February.

Tax payers using the Education Credits form are being advised to wait until then to complete their return.

In the mean time, filers can claim other education-related tax benefits such as tuition and fees and student loan interest deduction.

Tax season opens on January 30 for most taxpayers.

 

 


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