WASHINGTON – Confused by multiple deductions, credits and savings accounts that help pay for college, students and their families miss out on hundreds of dollars in tax benefits, a government report said Monday.
The Government Accountability Office, an independent arm of Congress that studies government programs and spending, analyzed the problem by examining about 1.8 million tax returns.
About one in four taxpayers eligible for an education tax break failed to claim one of the available credits or the tuition deduction, the analysis found.