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Taxpayer Relief Act

Taxpayer Relief Act

The Taxpayer Relief Act of 1997 (TRA97) introduced two new education tax credits: the Hope Scholarship Credit and the Lifetime Learning Credit. These credits may help families offset the costs of higher education by reducing their income tax. To determine if you are eligible to claim either of the credits, please refer to IRS Form 8863, Publication 970, or Notice 97-60.


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