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Started By
Message
So the tax lady messed up my return....What should I do?
Posted on 2/7/12 at 1:09 pm
Posted on 2/7/12 at 1:09 pm
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?
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 2/7/12 at 1:14 pm
6
Posted on 2/7/12 at 1:15 pm to Modern
I'm not a tax expert either, but this sounds right
Once you file, you can't rescind it, only amend it
Once you file, you can't rescind it, only amend it
Posted on 2/7/12 at 1:16 pm to gizmoflak
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??
Posted on 2/7/12 at 1:16 pm to gizmoflak
yea you're just gonna have to amend it and pay back a little out of the refund you get
Posted on 2/7/12 at 1:18 pm to Modern
well, at least you're holding their money, and not the other way around
Posted on 2/7/12 at 1:19 pm to Modern
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.
Posted on 2/7/12 at 1:20 pm to gizmoflak
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*
Posted on 2/7/12 at 1:21 pm to iwasthere
quote:basically if you're finished with undergrad, you get a credit that is not as good if you were still an undergrad
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.
Posted on 2/7/12 at 1:26 pm to Ford Frenzy
The american oppurtunity tax credit doesn't matter if it is undergrad or graduate. you just can't exceed 4 yrs of claiming.
Posted on 2/7/12 at 1:32 pm to iwasthere
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?
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?
Posted on 2/7/12 at 1:32 pm to iwasthere
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.
Posted on 2/7/12 at 1:34 pm to iwasthere
Can you use it if the gov paid your school?
Posted on 2/7/12 at 1:38 pm to Modern
at least you found out now and not 2 years from now and have to pay interest and penalties.
Posted on 2/7/12 at 1:38 pm to wegotdatwood
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.
Posted on 2/7/12 at 1:58 pm to iwasthere
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.
Only time I like the guard.
Posted on 2/7/12 at 2:04 pm to Modern
you go to Liberty Tax or something like that?
Posted on 2/7/12 at 2:05 pm to yellowfin
or Jackson Hewitt at the local Wal-Mart.Posted on 2/7/12 at 2:07 pm to iknowmorethanyou
I have a general rule about allowing people to prepare my tax return in a statue of liberty costume....but that's just me.
Posted on 2/7/12 at 2:08 pm to wegotdatwood
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.
Posted on 2/7/12 at 2:08 pm to yellowfin
quote:
you go to Liberty Tax or something like that?
lol...no
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