Tax credits are available to eligible students
March 18, 2011
In an effort to help Rhode Islanders save thousands of dollars, President Ray Di Pasquale met today with U.S. Senator Jack Reed (D-RI) and Ernest A. Almonte, CPA, and a partner at DiSanto, Priest & Company, to urge Rhode Island students and parents to take advantage of several higher education credits and deductions when filing their federal and state income taxes this spring. In some cases, taxpayers can save up to $2,500 annually on tuition and college expenses.
“Higher education is very grateful to Senator Reed for his outstanding leadership and bringing to the attention of our students this timely and important message," said Di Pasquale during a press conference held at the CCRI Liston Campus in Providence.
There is still time for taxpayers who missed out in 2009 to amend their filing and get the proper credit. To determine if you are eligible for the credit, visit IRS.gov and fill out form number 8863. For more information about the American Opportunity Tax Credit, read the IRS' list of frequently asked questions.
"This is an amazing opportunity in these very difficult economic times to help our students with their finances and we thank Senator Reed for all he continues to do for Rhode Island students and to help all of us build a stronger America,” Di Pasquale said.