IRS Audit

[chnco]

Let's someone claims a tuition expense but gets hope, IRS going to audit?

[tony]

Use turbotax? It'll give you red flags for audits. Other than that I'm not 100% sure, I have done it in the past and never got audited. *knock on wood*

[chnco]

well, I just input numbers. I'm just saying what if a schloarship pays for all of tuition, and you claim it under tuition expenses, (Lifetime Learning Credit) and it gives you 20%?

[tony]

hmmm that one I'm not sure... I can't remember if there are any accountants here on IA either

[NevrNufTorq]

you probably wont get audited but you never can be sure. but, you will more than likely get a corrected figure from the irs and/or a fine from them :2cents:

[chnco]

what do you mean by more than likely a corrected figure? I mean, I do pay tuition, just Hope pays for it, lol.

[NevrNufTorq]

i didnt get a w9 from one of my companies i represent one year so i thought i was getting money back from what i paid in to the time i did my taxes but when i was wondering where my check was i got a certified letter telling me my taxes were incorrect and that i owed them money not the other way around :rolleyes:

[NevrNufTorq]

i guess in their view they put it as i made a mistake and they didnt care as long as they got their money!! :blah:

[RandomGuy]

ok lol i got a small problem as well

Well i did my taxes on Jan 20th I believe.... right nothing major all I had was a W2, just wanted to get it the fuk out of the way.

A week later i get some sort of form in the mail that I've never seen .(btw i don't have hope scholarship and am ineligible for pel grant) I've been paying for classes out of pocket. What I don't get is that somehow (maybe I missed something) I got financial aid for 3k or something?

well whatever I didn't claim that on my return (i already submitted it).. I mean its only 3k and i doubt it'd change anything much. Will I get auditted? If so what can I do to prevent it (oh yeah, did i mention i lost teh form since then LOL)

[EssAreTwenTee]

ok lol i got a small problem as well

Well i did my taxes on Jan 20th I believe.... right nothing major all I had was a W2, just wanted to get it the fuk out of the way.

A week later i get some sort of form in the mail that I've never seen .(btw i don't have hope scholarship and am ineligible for pel grant) I've been paying for classes out of pocket. What I don't get is that somehow (maybe I missed something) I got financial aid for 3k or something?

well whatever I didn't claim that on my return (i already submitted it).. I mean its only 3k and i doubt it'd change anything much. Will I get auditted? If so what can I do to prevent it (oh yeah, did i mention i lost teh form since then LOL)

you can file an amendment its no big deal really. But if you lost the form i dunno. If you need a tax lady let me know

[RandomGuy]

you can file an amendment its no big deal really. But if you lost the form i dunno. If you need a tax lady let me knowwhat happens if i dont file an amendment...

oh yeah did I mention, I already got my return

[chnco]

What if you don't, do they forget about it?

[Decker1.8t]

Does anyone on here personally know anyone who's been audited?

[JITB]

i know 3 people that have been audited....
my mom, my gf's mom, and my friends.... all bad...my mom just payed hers off last year and it was ALOOOOOOOT... so she finally is gettin money back this year. and my gf's mom is still paying back taxes from like 5 yrs ago. and my friends is a idiot.. and doesnt even file.... but claims i think 6 on his W2...idiot..

[chnco]

weird, I haven't owed taxes in years.

[JITB]

if u claim too much ****? you will end up paying back......but im no accountant, i jsut get my W2's and go to hr block..and sign some papers... and wait for my check