Will Home Buyer Credit Be Extended
February 7th, 2009
Question: Was the half a billion in fraud the basis for why Obama decided to extend the 1st time home buyer credit?
Together, fake or faulty claims for the $8,000 refundable tax credit may have cost the government up to half a billion dollars so far, investigators told the Ways and Means subcommittee.
http://www.politicsdaily.com/2009/10/22/four-year-old-got-first-time-homebuyer-tax-credit-panel-told/
Russell George, an inspector general with the Treasury Department, told the subcommittee about the most brazen instances of bogus claims that he had come across since the IRS created a filtering system last May to weed out suspicious applications.
George said he had found nearly 20,000 returns for people who may not have actually purchased homes; thousands for people who already owned homes; 3,200 taxpayers who could not prove they were in the country legally; and an unspecified number of IRS employees wrongly applying for the credit.
Answer: According to Obam Fraud= Good.
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First time home buyer tax credit
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