First time homebuyers 8,000 Dollar Tax Credit: Thinking of fraud? Think again…
By Luke Constantino, Residential/Commercial Real Estate Brooklyn NY
(Brooklyn/Manhattan Real Estate)
Luke Constantino| August 1st 2009 There are many first time homebuyers out there who will be taking advantage of the 8,000 dollar First time Home-Buyer credit that was passed in 2008 and goes on until December 1st of 2009. As many good things we get as relief from the government come, so do people who want to commit fraud. "We will vigorously pursue anyone who falsely tries to claim this or any other tax credit or deduction," said Eileen Mayer, Chief, IRS Criminal Investigation. "The penalties for tax fraud are steep. Taxpayers should be wary of anyone who promises to get them a big refund." A tax preparer from Jacksonville Florida named James Otto Price III falsely claimed the first time homebuyer's credit for a client on their federal tax return. James faces the possibility of up to t...
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