An Opportunity to Recoup Some of the Expenses of Higher Education The current tax code encourages individuals to seek higher education for themselves and their dependents. For the tax year ending December 31, 2012, taxpayers will again have the choice of two possible education credits-The American Opportunity Credit and the Lifetime Learning Credit. In order to take the credit on their returns, taxpayers must complete Form 8863. Each credit has different requirements and benefits. American Op [...]
