Maine Revenue Services Releases 2020 Educational Opportunity Tax Credit Worksheet for Resident, Part-Year Resident Individuals

Maine Revenue Services Dec. 1, 2020 released the 2020 Educational Opportunity Tax Credit Worksheet for resident and part-year resident individuals with instructions for individual income tax purposes. Taxpayers should use this worksheet if they have paid education loan payments directly to the lender. If an employer directly paid all of the loan payments to the lender, the taxpayer doesn’t qualify for the credit. If the employer directly paid some of the payments, then the taxpayer may qualify for the credit and must complete this worksheet, and enclose it with the Educational Opportunity Tax Credit-Employer/Employee Affidavit. If this is a taxpayer’s ...