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.
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Source: The Treasury Inspector General for Tax Administration
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