Topic: American Opportunity Tax Credit

New IRS Tax Guide Helps People With Their 2013 Taxes

December 24, 2013 |

Washington, D.C. – Taxpayers can get the most out of various tax benefits and get a jump on preparing their 2013 federal income tax returns by consulting a newly revised comprehensive tax guide now available on www.IRS.gov.

Publication 17, Your Federal Income Tax, features details on taking advantage of a wide range of tax-saving opportunities, such as the American Opportunity Tax Credit for parents and college students, and the Child Tax Credit and Earned Income Tax Credit for low- and moderate-income workers.

https://www.youtube.com/watch?v=NPo7KDXBBe0 «Read the rest of this article»

IRS Back-to-School Tax Tips for Students and Parents

August 15, 2013 |

Washington, D.C. – Going to college can be a stressful time for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs and maybe relieve some of that stress.

American Opportunity Tax Credit. This credit can be up to $2,500 per eligible student. The AOTC is available for the first four years of post secondary education. Forty percent of the credit is refundable.

http://www.youtube.com/watch?v=8w24hxuBwF0 «Read the rest of this article»

IRS Warns of Tax Season Scams

March 9, 2013 |

Nashville, TN – As part of National Consumer Protection Week, the Internal Revenue Service today reminded Tennessee taxpayers to be on the lookout for scammers posing as the IRS and scammers posing as tax preparers with special knowledge about getting IRS tax benefits.

“Tax scams come in many forms, but two of the most common involve fake IRS emails and dishonest people promising ‘free’ government money,” said IRS spokesman Dan Boone. «Read the rest of this article»

Internal Revenue Services says Tax-filing and Payment Extensions Expire October 15th

September 30, 2012 |

Check Eligibility for Overlooked Tax Benefits; Choose e-file; Payment Options Available

Washington, D.C. – The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on October 15th to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the Free File system.

Many of the more than 11 million taxpayers who requested an automatic six-month extension this year have yet to file. «Read the rest of this article»

Tax Scam Warning: Beware of Phony Refund Scheme Abusing Popular College Tax Credit

March 2, 2012 |

Senior Citizens, Working Families and Church Members Are Targets

Washington, D.C. – The Internal Revenue Service today warned senior citizens and other taxpayers to beware of an emerging scheme tempting them to file tax returns claiming fraudulent refunds.

The scheme carries a common theme of promising refunds to people who have little or no income and normally don’t have a tax filing requirement. Under the scheme, promoters claim they can obtain for their victims, often senior citizens, a tax refund or nonexistent stimulus payment based on the American Opportunity Tax Credit, even if the victim was not enrolled in or paying for college.

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Six Facts about the American Opportunity Tax Credit

August 31, 2010 |

It’s back-to-school time again and the Internal Revenue Service is reminding parents and students that there is still time left to take advantage of the American Opportunity Tax Credit, a credit that will help offset the cost of college.

This tax credit is part of the American Recovery and Reinvestment Act of 2009 and is available through December 31st, 2010. It can be claimed by eligible taxpayers for college expenses paid in 2009 and 2010.

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