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Phony Refund Scheme: The IRS warned taxpayers of an emerging scheme where promoters claim they can obtain a tax refund or stimulus payment based on the American Opportunity Tax Credit, even if the victim was not enrolled in or paying for college. The credit under IRC Sec. 25A applies to qualified higher education expenses paid in tax years 2009–2012, with a portion of the allowable amount being refundable. The IRS also reminded taxpayers that they are legally responsible for the accuracy of their returns, and must repay any refunds received in error. News Release IR-2012-29 .