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Modern
Florida State Fan
The State of Louisiana
Member since May 2011
11349 posts

So the tax lady messed up my return....What should I do?

Long story short:

Went in and did my taxes yesterday, she added the "American opportunity tax credit" due to I was in school this year. with the credit being added, it increased my return by a couple hundred dollars.

She filed it electronically.

she called me today saying that she did research into the credit and said that I cant use it, due to the fact that im past my 4 years in college. and that I have to come back in so that they can do an amendment..

She said that im still gonna get my return for the amount with the credit, but amendments wont be looked at by the IRS until April?

so it looks like I might have to pay some money back from my return to the IRS once they see the amendment.


im not a tax expert, but does this sound right?
This post was edited on 2/7 at 1:14 pm



gizmoflak
Georgetown Fan
Member since May 2007
9368 posts

re: So the tax lady messed up my return....What should I do?
I'm not a tax expert either, but this sounds right


Once you file, you can't rescind it, only amend it


Modern
Florida State Fan
The State of Louisiana
Member since May 2011
11349 posts

re: So the tax lady messed up my return....What should I do?
so i just might as well and take the amount added to my return from the credit and save/put it somewhere until i get the letter from the IRS??



Ford Frenzy
New Orleans Saints Fan
337 posts
Member since Aug 2010
5755 posts

re: So the tax lady messed up my return....What should I do?
yea you're just gonna have to amend it and pay back a little out of the refund you get


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gizmoflak
Georgetown Fan
Member since May 2007
9368 posts

re: So the tax lady messed up my return....What should I do?
well, at least you're holding their money, and not the other way around


iwasthere
UNO Fan
New Orleans
Member since Jul 2010
1444 posts

re: So the tax lady messed up my return....What should I do?
What does she mean by past your 4 years of college? To take this credit, you can not have claimed this one or the others for more than 4 yrs. If you haven't claimed education credits before, you are good.


Modern
Florida State Fan
The State of Louisiana
Member since May 2011
11349 posts

re: So the tax lady messed up my return....What should I do?
i never had to pay the IRS before? When i get the letter in, how long do they usually give you to pay them back? In case something comes up and i need to use the money for something. *knocks on wood*


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Ford Frenzy
New Orleans Saints Fan
337 posts
Member since Aug 2010
5755 posts

re: So the tax lady messed up my return....What should I do?
quote:

What does she mean by past your 4 years of college? To take this credit, you can not have claimed this one or the others for more than 4 yrs. If you haven't claimed education credits before, you are good.
basically if you're finished with undergrad, you get a credit that is not as good if you were still an undergrad


iwasthere
UNO Fan
New Orleans
Member since Jul 2010
1444 posts

re: So the tax lady messed up my return....What should I do?
The american oppurtunity tax credit doesn't matter if it is undergrad or graduate. you just can't exceed 4 yrs of claiming.


Modern
Florida State Fan
The State of Louisiana
Member since May 2011
11349 posts

re: So the tax lady messed up my return....What should I do?
I started college in the summer of 05', finished this past summer 11'

I started filing taxes on my own 2 years ago. This is my 3rd year filing on my own.

I used the credit last year, and the year before last, and im trying to use it this year. Before that, my parents used my school info on their taxes.

Big possibility that my parents used the credit on theirs few years back?


iwasthere
UNO Fan
New Orleans
Member since Jul 2010
1444 posts

re: So the tax lady messed up my return....What should I do?
I just found on the IRS site where you can't be past your first 4 yrs of post-secondary as well as the 4 yrs of claiming.


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wegotdatwood
Member since Aug 2009
17094 posts

re: So the tax lady messed up my return....What should I do?
Can you use it if the gov paid your school?


Chad504boy
New Orleans Saints Fan
Greenbriar WV
Member since Feb 2005
91521 posts

re: So the tax lady messed up my return....What should I do?
at least you found out now and not 2 years from now and have to pay interest and penalties.


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iwasthere
UNO Fan
New Orleans
Member since Jul 2010
1444 posts

re: So the tax lady messed up my return....What should I do?
What ever amounts you use, you are supposed to put how much was paid from you, tax exempt scholarships, and stuff like that. You should look into it because it could be considered tax exempt scholarships or something like that. Your school should be giving you a form showing what was paid.


wegotdatwood
Member since Aug 2009
17094 posts

re: So the tax lady messed up my return....What should I do?
Yeah, my total tuition was about $6,500 and I got about $8,200 in several different types of aid.


Only time I like the guard.


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
78335 posts
Online

re: So the tax lady messed up my return....What should I do?
you go to Liberty Tax or something like that?


iknowmorethanyou
LSU Fan
Paydirt
Member since Jul 2007
5077 posts

re: So the tax lady messed up my return....What should I do?
or Jackson Hewitt at the local Wal-Mart.


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
78335 posts
Online

re: So the tax lady messed up my return....What should I do?
I have a general rule about allowing people to prepare my tax return in a statue of liberty costume....but that's just me.


iwasthere
UNO Fan
New Orleans
Member since Jul 2010
1444 posts

re: So the tax lady messed up my return....What should I do?
It puzzles me how many Guard members there are that don't use the benefits for school. Yet they will complain that they can't find a job, lol.


Modern
Florida State Fan
The State of Louisiana
Member since May 2011
11349 posts

re: So the tax lady messed up my return....What should I do?
quote:

you go to Liberty Tax or something like that?



lol...no


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