IRS Summertime Tax Tip 2015-14: Back-to-School Education Tax Credits

IRS Tax Tips August 3, 2015

Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams/Consumer Alerts The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News IRS Resources Compliance & Enforcement News Contact Your Local IRS Office Filing Your Taxes Forms & Pubs Frequently Asked Questions Taxpayer Advocate Service Where to File IRS Social Media

Issue Number: IRS Summertime Tax Tip 2015-14Inside This Issue Back-to-School Education Tax Credits If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able to claim a tax credit on your federal tax return. Here are some key IRS tips that you should know about e tax credits: • American Opportunity Tax Credit. The AOTC is worth up to $2,500 per year for an eligible student. You may claim this credit only for the first four years of higher education. Forty percent of the AOTC is refundable. That means if you are eligible, you can get up to $1,000 of the credit as a refund, even if you do not owe any taxes. • Lifetime Learning Credit. The LLC is worth up to $2,000 on your tax return. There is no limit on the number of years that you can claim the LLC for an eligible student. • One credit per student. You can claim only one type of education credit per student on your tax return each year. If more than one student qualifies for a credit in the same year, you can claim a different credit for each student. For instance, you can claim the AOTC for one student, and claim the LLC for the other. • Qualified expenses. You may use qualified expenses to figure your credit. These include the costs you pay for tuition, fees and other related expenses for an eligible student. Refer to IRS.gov for more on the rules that apply to each credit. • Eligible educational institutions. Eligible schools are those that offer education beyond high school. This includes most colleges and universities. Vocational schools or other postsecondary schools may also qualify. If you aren’t sure if your school is eligible: o Ask your school if it is an eligible educational institution, or o See if your school is on the U.S. Department of Education’s Accreditation database. • Form 1098-T. In most cases, you should receive Form 1098-T, Tuition Statement, from your school by Feb. 1, 2016. This form reports your qualified expenses to the IRS and to you. The amounts shown on the form may be different than the amounts you actually paid. That might happen because some of your related costs may not appear on the form. For instance, the cost of your textbooks may not appear on the form. However, you still may be able to include those costs when you figure your credit. Don’t forget that you can only claim an education credit for the qualified expenses that you paid in that same tax year. • Nonresident alien. If you are in the United States on an F-1 Student Visa, the tax rules generally treat you as a nonresident alien for federal tax purposes. To find out more about your F-1 Student Visa status, visit U.S. Immigration Support. To learn more about resident and nonresident alien status and restrictions on claiming the education credits, refer to Publication 519, U.S. Tax Guide for Aliens. • Income limits. These credits are subject to income limitations and may be reduced or eliminated, based on your income. Visit IRS.gov and use the Interactive Tax Assistant tool to see if you are eligible to claim education credits. Visit the IRS Education Credits Web page to learn more. Also see Publication 970, Tax Benefits for Education. You can get it on IRS.gov/forms at any time. IRS YouTube Videos: Education Tax Credits – English | Spanish | ASL IRS Podcasts: Education Tax Credits – English | Spanish Back to Top

Hiring Event_Marshalls

Chatham Business Association, Small Business Development Inc.
800 E. 78th St.
Chicago, IL 60619
www.cbaworks.org | www.cbatechworks.org
Phone: 773-994-5006
Fax: 773-855-8905
Follow CBA on Facebook Twitter
Attention CBA JobSeeker:

Chicago Workforce Center-Pilsen will be hosting its next hiring event with Marshalls August 26-28^th! They are opening a new store on 42 & Pulaski in October and asked for our help with staffing. Onsite interviews will be conducted all three days-August 26, 27, 28. Pilsen will also host a “Mock Interview & Resume Critique” session August 17^th to prep all of our clients prior their interview with Marshalls.

If you have any clients interested in Marshalls, please have them call our call center (see attached). ALL CLIENTS NEED TO BE PRESCREENED THROUGH OUR CALL CENTER IN ORDER TO SECURE AN INTERVIEW TIME SLOT!!!

Click Here for Hiring Event_Marshalls

Assistive Technology 25 Years After the ADA

Some of us can remember AT in the years after the ADA was signed into law.

August 03, 2015 Assistive Technology 25 Years After the ADA As the nation celebrates the 25th anniversary of the Americans with Disabilities Act (ADA), the ACL Blog is featuring guest posts from leaders in the disability community. In this post, Missouri Assistive Technology (AT) Director Marty Exline reflects on how AT advances the goals of the ADA and how the ADA has led to the development of newer and better technology. Some of us can remember AT in the years after the ADA was signed into law. The Internet was in its infancy and a 1995 Newsweek article called the promise of the Internet “baloney.” Augmentative and alternative communication (AAC) devices were big boxes that cost at least twice as much as some tablet AAC options available today. Speech recognition software was not available to most consumers in the early 1990s, and what was available had discreet word, not continuous speech, functionality. And video magnifiers (CCTVs) were available in limited and bulky sizes, and none of them had any OCR text recognition capabilities. Assistive technology has made “reasonable accommodations” easier to achieve in employment. It has made home and community based services more available in long term care. And yes, it has even allowed businesses to have more accessible sites on that Internet fad thing that seems to still be around. Read More

THINGS YOU SHOULD KNOW: Various Measures Introduced to and Approved by the Chicago City Council

Attached please find press releases announcing various measures introduced to the Chicago City Council today. Below is a list of the releases attached for your convenience:

• Mayor Emanuel, Alderman Sawyer Introduce Ordinance To Protect Taxpayers From Getting Shortchanged By Future Asset, Service Privatizations
• Various Community and Land Development Measures Introduced to City Council
• Mayor Emanuel Introduces Ordinance To Codify Executive Order On TIF Surplus
• Mayor Emanuel Introduces Transit Oriented Development Reform Ordinance To Accelerate Development Near Public Transportation Stations

Attached please find press releases announcing various measures approved by Chicago City Council today. Below is a list of the releases attached for your convenience:

• Various Community and Land Development Measures Approved by City Council
• City Council Approves New Board Members To Chicago Infrastructure Trust
• City Council Approves Appointment Of Lisa Morrison Butler As Commissioner Of The Department Of Family And Support Services
• City Council Approves The Nomination Of Lori Lightfoot As Police Board Chair
• City Council Approves Appointment Of Judy Frydland As Commissioner Of The Department Of Buildings
• City Council Approves Ordinance To Expand Citywide Composting Program
• City Council Approves New Investment Partnership Between Chicago City Treasurer And Public Buildings Commission

###

---

Follow PUSH!

Donate to Rainbow PUSH

Share This

[CHICAGO GOOD HEALTH GROUP] Status Update

Robert Beck July 29 at 11:34pm Robert Beck Dr. Joel Wallach In Chicago One Day Only Wednesday August 12, 2015. FREE HEALTH SEMINAR at Monument ... Like Comment Share CHICAGO GOOD HEALTH GROUP Robert Beck July 29 at 11:34pm Robert Beck Dr. Joel Wallach In Chicago One Day Only Wednesday August 12, 2015. FREE HEALTH SEMINAR at Monument ... Like Comment Share View Post Edit Email Settings Reply to this email to comment on this post.

Racial & Diversity Panel / Swag the Runway / The Red, Black & Green /Ebony Magazine

Building Generational Leaders TBTNEWS HEADLINE Ebony Has Your Back, Do You Have Ours? Special Correspondents: Desiree Rogers and Kierna Mayo We're Like Tweet Pin +1 Subscribe Building Generational Leaders For the latest menu options, please CLICK! (Paid AD) NGLC Leadership Luncheon Partner. CLICK for details! (Paid AD) Paid AD Paid AD Paid AD Desiree Rogers, CEO, Johnson Publishing TBTNEWS HEADLINEEbony Has Your Back, Do You Have Ours? Special Correspondents: Desiree Rogers and Kierna Mayo We're the oldest Black magazine in the world, but we know better than to solely rely on the past to keep modern, intelligent African-Americans hooked. For some, these are so-called "post racial" times, but we know there is still such a thing as the Black perspective—and EBONY delivers it clear and uncut. With the cacophony of media noise out there, we're stepping up our game with bolder covers and provocative, urgent content you can't turn away from. We know Black people consume lots of information—fast. The August issue already has Black social media aflame. Twitter, Instagram, and Facebook stopped in its tracks—everyone agrees that the politically charged cover line "outs" the secret sentiment so many African-Americans share: "America Loves Black People Culture." We are in the throes of the Black Live Matters movement and we take reporting on our fate seriously. However, we can't remain in the trenches without support. Not only is EBONY doing the work, but we are staying brave and keeping it gorgeous and exciting. We need Black people to continue to "have our back." It's not just a cliche. Without Black dollars, EBONY can not survive. It's that simple. So please subscribe to EBONY and tell everyone you love to do the same! For only $5.99 you can have Black America's perspective for an entire year on your iPad. Click for more info! http://www.ebony.com/ebonyapp/index.php?campaign=cwtbt Kierna Mayo Kierna Mayo has been named editor-in-chief of Ebony magazine. She is the former Editorial Director of Tyra.com, where she developed a cutting-edge, online women’s magazine for Tyra Banks’ Bankable Enterprises. She is also former online editor at Cafemom.com. Kierna has written about culture and lifestyle for over 20 years. Her critically acclaimed writings have appeared in major national magazines including Essence, Marie Claire, Glamour, Seventeen, Vibe and Uptown among others. Most notably, Kierna is also the co-founder and founding Editor-in-Chief of Honey magazine. Recognized for its visionary editorial direction, Honey became the first of a new genre in American magazine publishing--a young, female demographic influenced by an emerging hip-hop culture. CLICK BANNER FOR DETAILS (Paid AD) 50 YEARS LATER Soledad O'Brien Thomas A. Saenz Hans Von Spakovsky Hon. Maxine Waters ABA Commission on Racial & Ethnic Diversity Panel Join award winning television news anchor and journalist Soledad O’Brien as she moderates a discussion with top national experts on voting rights in America, a fundamental issue which remains at the forefront of our national discourse and debate. O’Brien is also Special Advisor, ABA Commission on Hispanic Legal Rights & Responsibilities. This panel takes place on Saturday, August 1, between 10:30 a.m. – 12:00 p.m. at Hyatt Regency Chicago. You can register for the program through ABA Annual Registration at www.ambar.org/annual. Visit the Commission at www.ambar.org/DiversityCommission. Panelists include: Hon. Maxine Waters, Thirteen term Congresswoman representing the 43rd Congressional District of California, and advocate for civil rights and social justice. Hans A Von Spakovsky, Manager of the Heritage Foundation’s Election Law Reform Initiative and Senior Legal Fellow in its Center for Legal and Judicial Studies. The Heritage Foundation is one of the nation’s leading conservative educational institutions. Thomas A. Saenz is a nationally recognized civil rights attorney who serves as President and General Counsel of Mexican American Legal Defense and Educational Fund (MALDEF – one of the nation’s leading Latino legal civil rights organizations. He is also a member of the ABA Commission on Hispanic Legal Rights & Responsibilities, and a recipient of the ABA Spirit of Excellence Award_. The Voting Rights Act of 1965 was passed against the backdrop of violence against voting rights activists, and the need to break the grip of discriminatory election practices. - Compass Public Affairs CLICK FOR DETAILS (Paid AD) Dr. Ron Daniels TBTNEWS COMMENTARYVantage Point! Special Correspondent: Dr. Ron Daniels The Red, Black & Green: Fly The Flag and Fight For the Exoneration of Marcus Garvey. August 17 will mark the 128th birthday of the Honorable Marcus Mosiah Garvey, the visionary Jamaican-born leader who built the Universal Negro Improvement Association and African Communities League (UNIA-ACL) into the largest mass movement for liberation in the history of Africans in America and perhaps the world! As such, I have long advocated that August 17th, his birthday, be celebrated as Universal African Flag Day. An unapologetic Pan-Africanist, Garvey believed that Black people should unite and fight to liberate Africa, the motherland, from the brutal clutches of European colonialism – Africa should be the base for global Black Power! Hence he said, “I know no national boundary where the Negro is concerned. The whole world is my province until Africa is free.” At a time when people of African descent were besieged, belittled, marginalized, exploited and oppressed everywhere, Garvey sought to instill a sense of pride in the history and heritage of a great people, noting that: “A people without the knowledge of their past history, origin and culture is like a tree without roots.” He declared that“ God and Nature first made us what we are, and then out of our own created genius we make ourselves what we want to be… Let the sky and God be our limit and Eternity our measurement.” Garvey was determined to rally a beleaguered people and mold them into a formidable force committed to self-reliance, self-determination and nationhood. The UNIA was organized like a nation in-waiting with military, economic/commercial, educational, health, religious and administrative divisions. He also created literature, music, images and symbols, designed to promote pride and unity. For example, the Universal Ethiopian Anthem was adopted as the official song of the organization. But, the most powerful and lasting symbol of unity that Garvey presented and bequeathed to African people was a Flag, the Red, Black and Green. Garvey was keenly aware of the psycho-cultural value of symbols to an oppressed/battered people. The Red, Black and Green was officially ratified as the Flag for African people at the 1920 UNIA Convention – which led Garvey to proclaim: “Show me the race or the nation without a flag, and I will show you a race of people without any pride. Aye! In song and mimicry they have said, ‘Every race has a flag but the coon.’ How true! Aye! But that was said of us four years ago. They can’t say it now….” In the era of the 60’s when Black Power, Black Nationalism and Pan Africanism reemerged as a dominant force in the Black Freedom Struggle in the U.S., the Red, Black and Green was frequently in full flourish at rallies and demonstrations. And, it was common to see sisters and brothers with buttons, hats, scarves and clothing with the colors of the Flag in the design. I shall never forget the hundreds of Flags waving in the breeze on African Liberation Day in 1972 where some 25,000 gathered in Washington, D.C. to demand the liberation of the last colonies in Africa. It was a glorious site, one Garvey must have been pleased with from his ascendant perch with the ancestors! (Dr. Daniels is President of the Institute of the Black World 21st Century and Distinguished Lecturer at York College City University of New York. His articles and essays also appear on www.ibw21.org and www.northstarnews.com) CLICK FOR DETAILS (Paid AD) TBTNEWS UPDATESwag the Runway 2015 Dreamz Youth Foundation presents the 6th Annual Swag the Runway Swag/ Fashion event where Swag the Runway Academy models showcase their talents through the mediums of music, acting, dance and swag with the production entitled Young, Talented and Driven on Saturday, August 1st. Doors open at 3:00pm and Swag Time is 4:00pm at King High School, 4445 South Drexel Blvd., Chicago, hosted by Dreamz Youth Foundation and comedian Kaliph Hasaan with designs by Double Stitch Twins & Queen Designs. Music provided by Spike Rebel and DJ 8 Ball, with special performances by Whitney Young Pom Pon Team and Iona Calhoun Ballet. Originally created and developed over time by the mother and daughter team Executive Producer Sa’Rah Valentine (Former model, mentor, tour manager) current entrepreneur and Queen Mitchell, a former model and retired CPS teacher of 32 years. Dreamz Youth Foundation provides it’s students with opportunities in fashion, modeling, performing, design, production and more. For more details, contact Angela Hubbard at SwagTheRunway@gmail.com or 312-566-1674. Also contact Aisha Murff at Aisham1@msn.com or 312.221.8782. Free street parking and limited free parking in the northeast parking lot. CLICK BANNER FOR DETAILS (Paid AD) CLICK BANNER FOR DETAILS (Paid AD) Chicago Networking Event Series Keith Harris and Bonnie Ott, CEO of Studio B Entertainment, creator of Studio B Event Series B96 & Studio B Event Series host, Gabe Ramirez interviewing Keith Harris Special Correspondent: streetscenemarketing.com Studio B Entertainment launched the first event in the STUDIO B Event Series. Over 150 musicians, songwriters, producers, event planners, brand agency marketers, creatives and executives all came together to network and hear directly from one of the best in the music industry, 2x Grammy and Juno Award winner Keith Harris. The evening kicked off with a live performance by artists in Keith's music agency - TGMA - performing Keith's hits American Boy by Estelle and Be Okay by Chrisette Michele. Keith shared his story of growing up in the Englewood neighborhood of Chicago and getting his start playing the drums in Church, launching his career as the touring drummer with Black Eyed Peas and Fergie, and how he moved through the music industry ranks writing, producing and playing music with legendary artists such as Michael Jackson, Madonna and even "The Godfather of Soul" James Brown. The evening inspired creativity, empowered guests to pursue their passions, and provided a fun, unique way to meet new people and grow their network for future collaborations. Here are also a few quotes from the evening with Keith: • "Your network of people is invaluable" • "You just have to be faithful to what it is you're called to do at that particular time because you never know what that is going to lead to"