Last week, I appeared on a special episode of CNBC's On the Money personal finance show, which was dedicated to frauds and scams. I was warning consumers about staying out of trouble with the IRS. Most notably, consumers need to avoid the scammers who advertise "pay pennies on the dollar to the IRS."
While it is possible to negotiate settlements with the IRS, most of the companies advertising these services do not provide value to taxpayers. Learn more in this video:
The American Opportunity tax credit, which replaced the Hope Scholarship credit in 2009, covers more years of college and offers bigger, better benefits to more taxpaying students or their families. Here's how the American Opportunity tax credit and Lifetime Learning credit, another helpful education tax credit, can help offset the rising cost of attending college.