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Education Tax Benefits


The federal government provides a number of tax incentives that can help defray the cost of higher education. These incentives come in a couple of forms: Tax Credits, which directly reduce the amount of tax you are liable for, and Tax Deductions, which reduce the amount of income on which you pay taxes.  Link to the 87 page IRS Publication 970, Tax Benefits for Education at http://www.irs.gov/pub/irs-pdf/p970.pdf for detailed guidance.