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Taxpayers Erroneously Claimed $532 Million in Education Tax Credits
Several hundred thousand people erroneously claimed more than $530 million in Hope Credits in 2006 and 2007, according to the Treasury Inspector General for Tax Administration (TIGTA). TIGTA released an audit of whether taxpayers properly claimed education tax credits and whether IRS controls properly identified taxpayers who did not. TIGTA’s review looked at taxpayers who claimed the credit in 2006 and 2007 and found that, in 2006, approximately 203,000 taxpayers erroneously claimed a total of over $300 million in Hope Credits. In 2007, over 169,000 taxpayers erroneously claimed a total of over $232 million in Hope Credits.
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Taxpayers Erroneously Claimed $532 Million in Education Tax Credits