Many families miss out on tuition tax credit

New Philadelphia Times Reporter

DOVER — Many families in the Tuscarawas Valley with children in college may have missed out on a tax credit last year that could have reduced their tax liability by as much as $2,500.

The American Opportunity Tax Credit provides a tax credit for qualified tuition and related expenses for the first four years of post-secondary education.

The credit originally was included in the American Recovery and Reinvestment Act, passed by Congress in 2009 and was extended for two years as part of the Unemployment Insurance Reauthorization and Job Creation Act of 2010.

This week, U.S. Sen. Sherrod Brown, D-Avon Lake, released a study showing that only 35 percent of eligible students in Ohio used the credit in 2009.

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Many families miss out on tuition tax credit »