The Federal Tax Credits Blog

Question: Prisoners file for home buyer tax credit, collect millions, is this the type of fraud Obama promised to end?

http://www.usatoday.com/money/economy/housing/2010-06-23-home-buyers-credit-inmates_N.htm

By Sandra Block, USA TODAY
Despite efforts by the IRS to combat scams, thousands of individuals — including nearly 1,300 prison inmates — have defrauded the government of millions of dollars in home buyer credits, Treasury’s inspector general reported Wednesday.

The home buyer credit provided a federal tax credit of up to $8,000 for first-time home buyers for tax year 2008, the subject of the report. The credit, created to revive the housing market, was later extended to repeat home buyers. The latest credit expired with sale contracts signed as of April 30.

Answer: Yes, this is one of the many things Obozo promised to end.

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