On Monday, June 29^th of 2015 President Obama signed into law H.R. 1295 entitled “The Trade Preferences Extension Act of 2015” (hereinafter “TPEA”) which not only extended a trade deal between the U.S. and sub-Saharan Africa but also included a number of tax-related provisions within the bill in connection to the Health Coverage Tax Credit (e.g., claimed on IRS Form 8885); the American Opportunity and Lifetime Learning Tax Credits (e.g., claimed on IRS Form 8863); and the Hope Scholarship Tax Credit (e.g., claimed on IRS Form 8863).

As a legislative synopsis from the Hill, the Senate approved TPEA by unanimous consent on June 24^th of 2015 and within twenty four hours the House of Representatives on June 25^th approved TPEA by a 286-to-138 margin. “I thought I’d start off the week with Read More