The Seattle Times reports on today’s House Ways & Means Committee hearing on fraud involving the new homebuyer tax credit :
The rush to implement a tax credit for first-time home buyers opened the program up to potential fraud by people who hadn’t bought a home or already owned one, Congress was told Thursday.
J. Russell George , Treasury Inspector General for Tax Administration, questioned the eligibility of some 100,000 claims out of the 1.5 million who have sought to take advantage of the $8,000 tax credit incorporated in the economic stimulus package enacted last February.
He said claimants include those who could possibly be illegal immigrants and that 580 people seeking $4 million from the first-time home buyer credit were under the age of 18. The youngest taxpayers receiving the credit were 4 years old, his office said.
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1 Homebuyer Credit Extension: Say it Ain’t So (Says) Joe // Oct 29, 2009 at 10:53 am
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