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

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

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...

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