Skip to Content

IG: IRS pays $513M in shady homebuyer tax credits

IG: IRS pays $513M in shady homebuyer tax credits

BY STEPHEN OHLEMACHER
The Associated Press

Published Apr 15, 2011 11:51AM MDT

WASHINGTON • A government investigator says the Internal Revenue Service has paid out more than a half-billion dollars in homeowner tax credits to people who probably didn’t qualify.
An inspector general said in a report released Friday that most of the money — about $326 million — went to more than 47,000 taxpayers who didn’t qualify as first-time homebuyers. Other credits went to prison inmates, taxpayers younger than 18 and people who did not actually buy homes.
The popular credit provided up...

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Get E-mail Updates from RealEstateNewsUtah.com

Receive FREE periodic updates from RealEstateNewsUtah.com. Subscribe here to be added to our mailing list.