Report: Millions mistakenly claim education tax credit

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Millions of American taxpayers may have erroneously claimed an education tax credit last year that was designed to provide relief as part of the Obama administration's economic stimulus program, according to a new federal watchdog report disputed by the Internal Revenue Service.

As many as 2.1 million taxpayers may have erroneously claimed a total of $3.2 billion by taking advantage of the American Opportunity Tax Credit, which provides up to $2,500 in relief for a college student paying tuition and related expenses. The tax credit, once known as the Hope Scholarship Credit, was expanded as part of the 2009 economic stimulus program.

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Zachary A. Goldfarb 21 Oct, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=456ef5f49ec2f6bb21cab6ea4f78e309
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