Harbor Financial Announces IRS Tax Form 8863 Instructions and Printable Forms for 2023 and 2024

The Internal Revenue Service (IRS) has recently announced the release of the tax Form 8863 and instructions for the tax years 2023 and 2024.

TRAVERSE CITY, MI, US, December 18, 2023 /EINPresswire.com/ — The Internal Revenue Service (IRS) has released tax form 8863 instructions and printable forms for the years 2023 and 2024.

The form is used to claim education credits, including the American Opportunity Credit and the Lifetime Learning Credit.

The IRS has made it easy for taxpayers to access the instructions and forms. The forms are available on the File My Taxes Online website and can be downloaded and printed for free. Taxpayers can also request a hard copy of the form by mail.

Tax form 8863 and instructions for 2023 and 2024 provide step-by-step guidance on how to complete the form, including information on eligibility requirements for claiming education credits.

Taxpayers are advised to carefully review the instructions before completing the form to avoid errors that could delay their refund.

The American Opportunity Credit is a tax credit of up to $2,500 per eligible student that can be claimed for the first four years of post-secondary education.

The Lifetime Learning Credit is a tax credit of up to $2,000 per tax return that can be claimed for undergraduate, graduate, and professional degree courses.

To claim education credits, taxpayers must meet certain eligibility requirements, including enrollment in an eligible educational institution and payment of qualified education expenses.

Taxpayers are also required to provide the Social Security Number or Individual Taxpayer Identification Number of the student for whom the credit is being claimed.

Taxpayers who are unsure about their eligibility for education credits or who have questions about completing the form 8863 should consult a tax professional or use the IRS Free File program, which provides free tax preparation software for eligible taxpayers.

The release of the form 8863 instructions and printable forms for 2023 and 2024 is a valuable resource for taxpayers who are planning to claim education credits on their tax returns.

The IRS has made it easy for taxpayers to access the forms and instructions, and taxpayers are encouraged to review the instructions carefully before completing the form to avoid errors that could delay their refund. To access form 8863, visit https://filemytaxesonline.org/printable-irs-tax-forms-instructions/

Frank Ellis
Harbor Financial
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