Hope Scholarship and Lifetime Learning Credit

    The U.S. Department of Treasury recently released an Internal Revenue Service (IRS) Notice 2000-62 regarding the Hope Scholarship Credit and the Lifetime Learning Credit that taxpayers may be able to claim under section 25A of the Internal Revenue Code. This notice announces that eligible educational institutions and certain persons who receive payments of student loan interest may continue to report the same information required in previous years under section 6050S of the Internal Revenue Code for the year 2001.

    A copy of this Notice is available on the IRS’s web site at http://www.irs.ustreas.gov/.  If you have additional questions regarding this Notice or education tax credits, you may contact Donna Welch of the Office of the Associate Chief Counsel at (202) 622-4910.  Any questions regarding this Bulletin should be directed to the UHEAA Policy and Training Department at (801) 321-7166.