Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 06-05-2017, 03:26 PM
Junior Member
 
Join Date: Jun 2017
Posts: 1
Tricky Education Refund Problem

I took courses for MBA in 2016 and completed in December. Employer requires 60 days for paperwork to be turned in for approval. Paperwork turned in mid-January. Long Story short, the $6500 was placed against my allowable $8500 allowed for education reimbursement each calendar year.

Is there a tax regulation or tax-related law that I could assert that would push back on their arguments about timing of tax liability? Just because the paperwork was received mid January, that was for the previous year. Could my W-2 be adjusted for 2016??



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 06-07-2017, 03:03 AM
Moderator
 
Join Date: Oct 2010
Posts: 4,836
Is there a tax regulation or tax-related law that I could assert that would push back on their arguments about timing of tax liability? ========>>I do not think so You can deduct qualifying expenses paid in the tax year for education during in the year, or education that begins during the year, or education that begins during the first three months of the following year..



Just because the paperwork was received mid January, that was for the previous year. Could my W-2 be adjusted for 2016??============>> no;You usually can claim unreimbursed edu exp on your tax return whe you paid it. "If you receive educational assistance benefits from your employer under an educational assistance program, you can exclude up to $5,250 of those benefits each year. This means your employer should not include those benefits with your wages, tips, and other compensation shown in box 1 of your Form W-2. This also means that you do not have to include the benefits on your income tax return. "



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How to tell if my 1098-T will earn me any education credit refund, or make me lose my refund? ayelynn Miscellaneous 1 01-25-2017 07:40 AM
Guaranteed Education Tuition (GET) credit refund/Publication 970 help BriBee Income 1 08-27-2016 07:11 PM
NOL problem Judith Income 1 08-02-2014 03:22 AM
Depedent Possible Problem Annie1958 Itemized Deductions 1 02-12-2010 11:13 AM
Withholding problem on W-2 bryanw Income 1 02-11-2010 02:36 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning