- A Government Accountability Office report released on Monday indicated that many families and students are not taking advantage of higher-education-related tax benefits.
- Missed savings for qualified families may have totaled $726-million in 2009.
- Overlooked tax benefits included the American Opportunity Credit, the Lifetime Learning Credit and tuition payment deductions.
From the article:
About 1.5 million tax filers in 2009 did not take advantage of the higher-education tax benefits for which they appeared to be eligible, according to a government report released on Monday.
The report, by the Government Accountability Office, says students and their families missed out on average tax benefit of $466. The missed savings totaled $726-million. ...