Accessibility and the PCC web site.

Important Dates:

The American Recovery and Revestment Act

Dates:

Mon., August 24, 2009 - Thu., April 15, 2010

Location:

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Description:

American Opportunity Credit
Under the American Recovery and Reinvestment Act (ARRA), more parents and students will qualify over the next two years for a tax credit, the American Opportunity Credit, to pay for college expenses.

The American Opportunity Credit is not available on the 2008 returns taxpayers are filing during 2009. The new credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. It also adds required course materials to the list of qualifying expenses and allows the credit to be claimed for four post-secondary education years instead of two. Many of those eligible will qualify for the maximum annual credit of $2,500 per student.

The full credit is available to individuals, whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.

For more information, go to IRS for Publication 970, Tax Benefits for Education. An education video about the tax credit can also be found on YouTube. Please visit the link below: http://www.youtube.com/watch?v=k8GgEqYEN1A&feature=channel_page

Website

http://www.pasadena.edu

Contact:

626-585-7401, finaiduser@pasadena.edu