March 2014

Tax Breaks Expire

Teachers impacted

The Internal Revenue Service estimates that 4 million teachers spent more than $1 billion paying for school supplies between 2010 and 2013, and now those supplies are no longer deductible on federal income tax forms.

The Educator Expense Deduction was one of 55 tax breaks that expired on Dec. 31. It was created to help teachers cover up to $250 for the cost of needed supplies their district doesn't reimburse them for.

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