Switched Keys

In mid-December Congress passed the 2016 Consolidated Appropriations Act, including amendments titled Protecting Americans from Tax Hikes (PATH) H.R. 2029. That bill addressed a wide array of concerns but it may be best known as the tax extender bill. Those interested in education credits welcomed the extender package because it made the American Opportunity Tax Credit (AOTC) permanent. Unlike many AOTC proposals made during the year that would rewrite the AOTC, unfortunately this package only makes AOTC permanent by removing the phrase "and before 2018" in IRC Section 25A(i). The amounts are the same… more »