If you made a mathematical error on your return, often times the IRS will automatically fix the error. After correcting the mistake, the IRS will send you a notice that shows the changes made to your return (usually a CP11 or CP12). Before correcting your return for a mathematical error, you may want to call the IRS at
For tax years 2009 and 2010 undergraduate students may qualify for the Hope Credit (now called the American Opportunity Credit) for four years instead of two and be eligible for a refund of this credit up to 40% of the credit. Also what qualifies as education expenses for the Hope Credit has been expanded. This is
Buried within most of the variants of President Obama’s proposal for extending health care to 47 million uninsured Americans is the notion that tax credits will somehow provide the financing. Tax credits have become popular with politicians in recent years because they look, superficially, revenue neutral. They are not. A tax credit is money the Treasury