Financial Aid
Tax Resources
- How to request a copy of your tax transcript
- Form 4506
- Regional IRS Locations / Phone Numbers
- Hope & Lifetime Learning Tax Credits
- IRS Home Page
Internal Revenue Service
Request a copy of your tax return on the IRS website. Three different types of tax data are available: tax return transcripts, tax account transcripts and photocopies of tax returns. The Tax Return Transcript is usually sufficient for financial aid purposes and it’s free. Due to new regulations the Financial Aid Office can no longer accept photocopies of tax returns for verification. IRS Forms and Publications can also be downloaded from this site. 1-800-908-9946
Publication 970 —Tax Benefits for Higher Education (pdf)
This publication explains tax benefits that may be available to you if you are saving or paying education costs for yourself or, in many cases another student who is a member of your immediate family. Most benefits apply only to higher education.
What is in this publication: Chapter 1 explains the tax treatment of various types of educational assistance, including scholarships, fellowships, and tuition reductions. Two tax credits for which you may be eligible are explained in chapters 2 and 3. These benefits, which reduce the amount of income tax you may have to pay, are:
• The American Opportunity Credit
• The Lifetime Learning Credit
Ten other types of benefits are explained in chapters 4 through 12. With these benefits, you may be able to:
• Deduct student loan interest
• Receive Tax-Free Treatment of a canceled student loan
• Receive Tax-Free Student Loan Repayment Assistance
• Deduct Tuition and Fees for Education
• Establish and contribute to a Coverdell Education Savings Account (ESA) which features tax-free earnings
• Participate in a Qualified Tuition Program (QTP), which features tax-free earnings
• Take Early Distributions from any Type of Individual Retirement Arrangement (IRA) for education costs without paying the 10% additional tax on early distributions
• Cash in Savings Bonds for Education Costs without having to pay tax on the interest
• Receive Tax-Free Educational Benefits from your Employer
• Take a Business Deduction for Work-Related Education
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