First Time Home Buyer Fraud
The IRS just announced their first successful prosecution for fraud involving the First Time Home Buyer Credit program. There is a growing number of people who think they can claim the $8,000 credit on their tax return even though they are not eligable. What these people probably don't know is that the IRS has several sophisticated software programs to help detect fraud such as this on personal income tax returns.
It's always best to consult a tax professional when it comes time to prepare your tax return. Home Field Realtors can refer you to several capable tax professionals, just ask!
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