So yesterday I had the distinct pleasure of doing a seminar for the Realtor Association of Miami Dade County in the Plantation office. What a fantastic group of Realtors! Great information and questions were had by all. I always have some "professionals" at my seminars to answer very specific questions and I had my "dream" team of ladies this time...title attorney, lender and engineering firm. But...who knew the real hit of the event would be the IRS!!! Yes you heard me...the IRS was one of my invited guests.

So here is the deal peeps...not that we would want to say the once again SoFLA is the hot bed of fraud cough cough...BUT since March over 500,000 people have put in a claim for the tax credit across the county. Of that amount would you believe me if I told you that close to 10% of those people that have sent in the tax form 5405 have not purchased a home????

Ok...so now this is not just a South Florida problem, it is across the old U.S. of A. and the most interesting part are the "accountants" telling their clients it is ok...oh...my...goodness AND, and this is my personal favorite..."as long as you close by Dec. 31st" you will be fine. EXCUSE ME...the credit ends on November 30th. Done, finito!

OK...so it gets better...oh the DRAMA in my class...but it made for a great ending...an agent in the class proceeded to SHARE with our fine friend from the IRS this direct story about her friend getting the $8K check and that her friend had not purchased a home yet and the friend was texting her while she shared the tale of fraud for the entire class to acknowledge.  Now, with that being said, the agent had nothing to do with the purchase. But and here is the scene stealer...

Ms. IRS says..."It is not IF your friend will get caught, it is simply WHEN...and when we catch these people they will have to pay back the $8k if they have not purchased the home plus a minimum of a $20% up to a 75% penalty on the $8k!!!!!" 

Well my goodness you could have heard a pin drop and then complete chaos lol!

Bottom line...we all learned alot from Ms. IRS and apparantly so did that one agent...I would have loved to have heard the phone conversation in the car!

Agent -  "Girl...you better figure out how to give that money back, or find a house before the end of November"

Friend - "I know...I went to find my accountant and oops SHOCKER...he is nowhere to be found that dirty rat"

Agent - "Girl...I think Ms. IRS is following me...I better throw my phone out the window so there is not evidence of me texting you in class gotta go"

Friend- "Hello...hello..."

So remember...you have to have purchased a home before you send in your 5405 tax form and you cannot have owned a home in the last 3 years people.

Michele Bee