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  • I would like to thank DesiOPT.com for sharing valuable information and experiences.

    I made a Tax mistake, Is there any time limit to return that money back to IRS ?

    I have a question regarding taxes. During my Master I have claimed for education benefits while filing taxes (form 1098-T) that was in April 2011 and I received some money in refund. Later I came to know being International Student and non-resident I am not eligible to receive any educational benefits. Now I would like correct my mistake by re-filing the form. I just want to know is there any time limit to return that money back to IRS. I read somewhere that IRS accepts money if filed within 3 years but not sure. Please let me know how can I correct my mistake? Importantly the time duration because, I don't have any job now to pay back?

    This was posted on https://www.facebook.com/desiopt1 on April 7th 2013

  • #2
    DesiOPT.com You can call Tax CPAs listed on www.DesiOPT.com for free advice, Readers, please do share your thoughts





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    • #3
      What is the method to post something on Desi Opt. I sent a query twice but both of the times it wasnt posted.....Is there a specific way to share your thoughts...Sorry I am new to the posts here

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      • #4
        All you need to do is to send a message to DesiOPT.com We will review it and usually post your question within 24-42 hours if it is relevant

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        • #5
          You're right in stating that you don't get education credits. However, as you have already claimed it, I think you should file an amended return for the tax year you claimed the credits for and recalc your Liability and pay what you have received, which you shouldn't! Also read pub 519 from IRS. That's specifically designed for non residents. I think india and us has a treaty that allows the students on cpt and opt to claim std deduction and personal exemption! Hope this helps

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