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IRS offers back-to-school tips for students, parents paying college expenses

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Whether you're going to college for the first time or a returning student, it's time to get to campus - and payment deadlines for tuition and other fees are not far behind. The Internal Revenue Service reminds students or parents paying such expenses to keep receipts and to be aware of some tax benefits that can help offset college costs.

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Typically, these benefits apply to you, your spouse or a dependent for whom you claim an exemption on your tax return.

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