• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

A failing tax grade on education credits

by on
in Small Business Tax,Small Business Tax Deduction Strategies

In a new report, the Treasury Inspector General for Tax Administration (TIGTA) has identified 2.1 million taxpayers who received $3.2 billion in education credits that appear to be erroneous. (TIGTA 2011-41-083, 9/16/11)

At least 1.1 million of the tax returns, or 52%, were submitted by a paid tax preparer. Significantly, 1.7 million taxpayers received $2.6 billion in education credits without any supporting evidence showing that the student even attended school.

The IRS plans to increase scrutiny in 2012.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/28960/a-failing-tax-grade-on-education-credits "

Leave a Comment