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First-Time Homebuyer Program Rife With Fraud, Four-Year-Olds File For Credit

Friday, October 23, 2009

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Government investigators revealed today that fraud is rampant in the First-Time Homebuyer Tax Credit program. Over 100,000 taxpayers have tried to cheat the system, the IRS says. Some of filers for the credit were just four years old.

The program allows people who haven’t bought a home in the past three years to claim up to an $8,000 tax credit, based on the home purchase price and their i...


Original article from http://www.businessweek.com/the_thread/hotproperty/archives/2009/10/first-time_home.html
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