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1.7 Million Families Just Lost a Big Tax Break
Source:
time.com
- Jan 5, 2017
College and graduate school got a little more expensive for as many as 1.7 million middle- (and upper-middle-) class families in 2017.
Congress failed to renew the tuition and fees federal income tax deduction for 2017 — and Washington insiders say it’s impossible to predict whether lawmakers will retroactively renew the deduction this year, as they have in the past. As a result, many students (and their parents) should be bracing for higher tax bills next year. (The deduction was in effect in 2016, so you’ll be able to use it on the 1040 you file this spring.)
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Category: General Business
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