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TIGTA Takes IRS to School: Education Credits Wrongly Issued

The Treasury Inspector General for Tax Administration identified $5.6 billion in credits from 2012 that were wrongly issued to taxpayers who failed to file Form 1098-T, attended schools that weren't eligible for the credit, and didn't meet the criteria to be considered “half-time” students.

TIGTA believes this problem is due to the lack of a sufficient assessment apparatus, which could be improved by implementing processes suggested in previous audits. The report goes on to identify measures that could address and prevent this problem in the future.

To read the full article, click here.

Source: The Treasury Inspector General for Tax Administration

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