fraud: Some are taking the first time home buyer credit when they don’t qualify
- 10/20/09 04:58 PM
Some are taking the first time home buyer credit when they don’t qualify Some will debate the merits of the first time home buyers tax credit, but one thing is not up for debate. Any preparer or taxpayer that decides to fraudulently take the credit is risking an IRS audit. The IRS has implemented several programs that will assist them in determining if the credit filed for are legitimate. More than a million claims for the credit have been processed, quite significant number. There currently have been 100,000 claims identified as suspicious and open for review. There also are 167 claims … (3 comments)
fraud: First Time Home Buyer Credit Fraud
- 08/14/09 09:01 AM
It seems, that there are some trying to take the first time home buyer credit that are not eligible for the credit. Penalties for tax payers and preparers can be quite stiff. Final responsibility is always the tax payer. These days tax preparers can be held accountable if they take a position that can’t be reasonably supported. Here is a link to a news release from the IRS http://www.irs.gov/newsroom/article/0,,id=211399,00.html
Some are taking the first time home buyer credit when they don’t qualify
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