Tags: tax | credits | irs | home

IRS Probing Home-Buyer Tax Credit Claims

Tuesday, 20 Oct 2009 09:05 PM

The U.S. Internal Revenue Service is probing more than 100,000 doubtful claims of a tax credit meant for first-time home buyers, the Wall Street Journal reported on its website on Tuesday.

The $8,000 tax credit for first-time home buyers under the American Recovery and Reinvestment Act was passed in February to help prod the U.S. economy back to life.

Special: New Bull: Warren Buffett Says You Must Read This Book -- Click Here Now.

Lawmakers have expressed concern that significant number of claims might turn out to be fraudulent, the paper said.

The IRS was investigating 167 "criminal schemes" involving the credit, according to the House Ways and Means oversight subcommittee, the paper said.

The IRS was not available to comment.

© 2015 Newsmax. All rights reserved.

1Like our page
2Share
US
The U.S. Internal Revenue Service is probing more than 100,000 doubtful claims of a tax credit meant for first-time home buyers, the Wall Street Journal reported on its website on Tuesday.The $8,000 tax credit for first-time home buyers under the American Recovery and...
tax,credits,irs,home
121
2009-05-20
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved