Had someone call today and ask if IRS was giving 1,000.00 refunds to social security recipients? Could he qualify? Anyone have any idea what he might be referring to. He said friends have already gotten their $????? As long as he owed no back tax, student loans they told him he may qualify.
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New one to me!
Chris -
Probably, what the preparer is doing is filing returns with the american opportunity credit on it to get the $1000. Since 40% is refundable, that would be $1000 refund.Taxpayers should be wary of any of the following:
Fictitious claims for refunds or rebates based on excess or withheld Social Security benefits.
Yes, totally fraudulent.Comment
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Social Security Refund
He/she may also be misunderstanding the new 2% reduction in withholding of the FICA tax on w-2s as that can be up to $1,000.Comment
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