Money
IRS Warned On Homebuyer Credit Fraud
By: Annie Gldzhyan
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Tue, 10/20/2009 - 10:00
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According to Reuters, the internal watchdog for the Internal Revenue Service is expected to warn the agency for the fourth time about fraud in the multibillion dollar homebuyer tax credit program.
About 1.4 million tax returns have been filed to take advantage of the United States' $8,000 credit and many lawmakers want to extend the credit, which expires on November 30. It has cost the U.S. government about $10 billion.
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