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American Opportunity Tax Credit

AOTC denied for year following the year in which tuition was prepaid

AOTC denied for year following the year in which tuition was prepaid

McCarville, TC Summary Opinion 2016-14 In a summary opinion, the Tax Court has held that a cash-basis, calendar-year taxpayer who prepaid college tuition expenses for a semester that began during the first three months of the following year could not claim the American Opportunity Tax Credit (AOTC) for the year in which the semester began. […]

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Including excludable scholarships in income may cut tax bill of credit-eligible students

Including excludable scholarships in income may cut tax bill of credit-eligible students

IRS Publication 970 Can a taxpayer can reduce his tax bill by including in income otherwise excludable amounts? In the context of education credits, this can work, and the strategy is suggested by IRS itself. It involves including in income certain otherwise excludable scholarships and fellowships in order to maximize education credits. Background. For tax […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney