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Thursday, October 29, 2009

Here’s Your Home-Buyer Tax Credit, and This is Your Audit

According to the WSJ, the First Time Home Buyer Tax Credit introduced last April was so easy and to scam that

The Treasury's inspector general for tax administration, J. Russell George, recently told Congress that at least 19,000 filers hadn't purchased a home when they claimed the credit. For another 74,000 filers, claiming a total of $500 million in credits, evidence suggests that they weren't first-time buyers.

And in fact its so bad that

the IRS is reportedly trying to audit almost everyone who claims it this year.

Hmmm, I wonder how many of these might have been suggestions from an ACORN office?

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