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To view Attorney Michael Santo's handout from his December 2010 Legislative Update presentation, click here.
To view Bechtel and Santo's quarterly updates click below:
Tuition Tax Break Extended
On December 17, 2010, President Obama signed legislation (H.R. 4853) extending tax cuts for two years that were set to expire on December 31, 2010. These extensions include the tuition assistance tax exclusion.
This provision allows employers to exclude up to $5,250 a year in employer-provided tuition assistance, for any type of undergraduate and graduate-level courses, as a business expense when determining their tax liability. It also allows an employee to exclude up to $5,250 per year in employer-provided tuition assistance for graduate and undergraduate courses from his/her income.
The Society for Human Resources (SHRM) supports a permanent extension of these tax breaks, but greeted this extension as welcome news. For more detailed information, contact the Internal Revenue Service.
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