Also extended for five years (not permanently) are number of individualtax credits including the child tax credit, the controversial earned income tax credit (EITC), and the American Opportunity Tax credit (the souped up version of the Hope Credit).
The number of federal individual income tax returns examined by the Internal Revenue Service has continuously increased over the past five years, with 1 out of every 90 taxpayers examined in fiscal year 2010, according to a statistical report released today by the Treasury Inspector General for Tax Administration.