The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/has-anybody-out-there-heard-something-about-a-10095277.aspx

Subject:  Re: Company Reimbursed Grad Education Date:  2/1/1998  9:56 AM
Author:  TMFTaxes Number:  1653 of 121061

[[Has anybody out there heard something about a change in tax law retroactive to 1995 regarding
company reimbursed graduate education? I paid thousands and thousands of dollars in taxes, and I
recently caught wind of a rumor that I may be able to get this refunded. Unfortunately, I can't put
my finger on any more information. I'm hoping that somebody else knows something about this!]]

The recent passage of TRA 97 extended the exclusion for education assistance to amounts paid for UNDERGRADUATE courses beginning before June 1, 2000.

The employer provided educational assistance program is discussed in greater detail in Code Section 127(d). Check with your employer, but I'm afraid that since your courses were graduate work, you will not qualify.

TMF Taxes
Roy

SPECIAL NOTE: I try to answer as many questions as I can each week, and I generally select those that have not been asked before. If you don't get a detailed answer to your question, it is probably because my time is so limited during tax season, or because it has already been asked and answered in this folder in the past, or because it has been discussed in the Taxes Frequently Asked Questions area. In order to visit the Taxes FAQ area, go to the Fool's School area (http://www.fool.com/school.htm) and check out "Other Features" in the list box, OR you can jump directly to the Taxes FAQ area (http://www.fool.com/school/taxes/taxes.htm). Additionally, if any references were made to the IRS Web Site, you can get there by pointing your web browser to (http://www.irs.ustreas.gov)




Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us