401kRollover Blog

Almost 4 million U.S. students have made improper student tax credit claims, according to a recent report by the Treasury Inspector General for Tax Administration. The improper claims included the following:

• Students who never provided tuition statements to prove what they had paid
• Students attended schools that didn’t even qualify for the tax credit in the first place
• Students who made tax credit claims for 5 or more years, something that should automatically disqualify them from receiving the credit

What’s the total taxpayer cost for these improper claims? $5.6 billion per year.

If you think these 4 million students need to learn a lesson about financial integrity (a lesson they certainly won’t learn from the U.S. government), please Like & Share this post.