[Surprise] Unscrupulous individuals made fraudulent claims for home buyer tax credit
We've all heard about the 4 year old child who claimed the $8k first time home buyer tax credit but a new government report was recently released showing just how much money was improperly paid out by the IRS.
Apparently, the home buyer tax credit was so simple to defraud that prison inmates claimed $9.1 million and $17.6 million was paid out on claims for homes purchased before the effective dates. And in what should be no surprise to anyone, multiple claims for the same address were allowed. Oh by the way, it was also discovered that some IRS employees also improperly claimed the credit.
When you talk about government waste and the ever expanding budget deficit, this is simply amazing.
Photo courtesy of flickr by kangotraveler