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Tuition Expense Reporting Rule Changes Proposed

The Internal Revenue Service (“IRS”) recently proposed regulations to change how students report qualified tuition and related expenses on Form 1098-T. Impacting higher institutions required to file Form 1098-T and taxpayers who can claim an education tax credit, the changes would align with the Tax Code amendments under the PATH Act and Trade Preferences Extension Act. More on the proposed regulations on tuition expense reporting is available on the Accounting Today website.

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