Eligibility requirements for the “American opportunity tax credit”
Please make sure that you meet the following criteria in order to claim the “American opportunity tax credit”.
- You must be a Student in one of the following educational institutions: Tel Aviv University, Haifa University, Bar Ilan University, Hebrew University, Technion, Ben Gurion University, The Interdisciplinary College in Herzelyia (IDC)
- You must be during the first 4 years of your postsecondary education.
- Have a SSN (Social Security Number).
- You must be enrolled at least half time for at least one academic period beginning during the year
- If you file as single, your income can’t exceed 90,000$ per year.
- If you file a joint return your income can’t exceed 180,000$.
- No felony drug convictions on student’s records
Please Note: If one of the two following situations applies to you , you should consult a Virtue tax representative so that we can guide you through the necessary steps in order to prove your eligibility:
- If your parents registered you as a dependent on their Tax return for that year.
- If you were under age 24 at the end of the calendar year (for 2016 if you were born after 31/12/1992 This section is relevant to you).
Most students in Israel and the United States met the eligibility criteria.
For the education credits instruction booklet from the IRS site please click here.
We recommend that you contact, by phone or email, one of Virtue tax representatives for confirming your eligibility and assisting in your application
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About the American Opportunity Credit
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Us, at VirtueTax believe that beyond excellence in providing professional services toour clients, we must assist and support those in Israeli society whose fate has not improved.Our vision includes business entities and social entities joining hands together and having a shared sense of drive to promote all aspects of Israeli society. Therefore, we have a deep commitment to both Israelis in need and to voluntary bodies focused on helping them. As part of this mission, the company purchases and delivers essential products to those in need in cooperation with organizations such as the “Association for a Turnaround in Education”. Our additional area of activity focuses on transferring funds as donations to animal shelters such as “Jerusalem loves animals” and “Mateh Yehuda loves animals”. We believe that our active involvement in Israeli society, provides not only an important service to the community, but also improves our professional teams.