There is another hold up in tax filing this year...this time for students and parents claiming popular student deductions.
The IRS has discovered they can not process education credits on form 8863 without further adjustment to their system. For those claiming the Lifetime Learning, or American Opportunity Tax credits (formerly known as the Hope Tax credit) it means mid February until your refunds can be processed.
The American Opportunity Credit matches dollar-for-dollar up to the first $2000 dollars in college related expenses, while the Lifetime Learning credit provides 20% of tuition expenses up to $10,000.
Comments (10)
i'm very dissapointed as I was expecting to receive my refund on 2/14/13 and now it will not processed until that day!
So those who are helping better themselves and parents helping their children get through school are told that they have to wait even longer for their refund. It seems odd that those working hard to do so, or even those with other credits with delays , like First time home owners, are having to wait longer and longer. Its said, when some of those people could really use some help and some money to keep going on their education. I know my tax refund pays for my daughter to go to a great school.
This was devastating news for me pertaining to the delay of processing form 8863. I have had to work 2 jobs to help my daughter through college. I have waited patiently all to file and actually filed my taxes 01/19/13. With the understanding that i had to wait until 01/30/13. to get the news late last week that i had to wait another 2 weeks for it to be processed alomst sank my ship. I've barely been holding on financially and now i have to scrimp and scrape another 3 to 4 weeks. This has been very disheartning. That to our elected official in washington. Very disappointing.
I am also extremely disappointed by this delay in processing refunds for those with educational credits. I had been working the same full-time job and taking night classes at my community college for over five years until I was laid-off late last year. Now, when I need MY money the most and so close to finishing school, they delay and screw off until I am about to wallow in damn poverty. Thank you congress, no wonder you can't break the 14% approval rating!
If they are accepting them on the 14th how long will it take to get our refund. I wish someone would of said something about this before I filed... The Education credit didn't really help me either.. I wish I could refile and remove the stupid education stuff. So does anyone know when we will get refund????
When the tax preparer called to tell me the "delightful" news about my taxes thanks to my educate credit, they told me returns would be processed mid-February, with the funds appearing roughly 21 days after the IRS accepted and processed the return. I eFiled and am having my refund direct deposited, so it may be longer if filing differently or opting to receive a paper check.
I filed January 25th I tried to do it early so I can get it early But no 1 told me because I went to school and filed education credit my info won't get processed until Feb. 14 I'm just finding this out Feb.19th after holding for longer than a hr to speak to someone at the irs but my question is SINCE THERE SITE IS SO ACCURATE WHY SAY MY REFUND IS BEING PROCESSED SINCE THE FIRST WEEK OF FEB WHEN THAT'S NOT TRUE it should have told me Feb.14 th it will be processed and I wouldnt have checked every day I am very upset if only I was told in advance
I received a message stating that my DDD would be the 25th, but to call if it was not there by the 2nd. This is some great news, and I hope it is true. It will be a great monday if that is the case!
I have been on hold for 4 hours dealing with the IRS to find out that my return my get paid out in 8-12 weeks because of the Education tax BS. That is 4 months after I filed it!!!!!!! Down goes this country with "CHANGE" for the worse. Nothing like killing the economy!!!
I filed my taxes in January and am still waiting for them to be processed. The acceptance date was four months ago. why arent they released in order. those with the same situation of education credits have gotten theirs before me. frustrating