IRS probing home-buyer tax credit claims: report

(Reuters) – The U.S. Internal Revenue Service is probing more than 100,000 doubtful claims of a tax credit meant for first-time home buyers, the Wall Street Journal reported on its website on Tuesday.

The $8,000 tax credit for first-time home buyers under the American Recovery and Reinvestment Act was passed in February to help prod the U.S. economy back to life.

Lawmakers have expressed concern that significant number of claims might turn out to be fraudulent, the paper said.

The IRS was investigating 167 “criminal schemes” involving the credit, according to the House Ways and Means oversight subcommittee, the paper said.

Advertisements

Tags:

2 responses to “IRS probing home-buyer tax credit claims: report”

  1. Twitter Trackbacks for IRS probing home-buyer tax credit claims: report « Urdu News, NewsPapers, Jung, Ummat, Dawn, Jazba, Nawa e [urdunews.wordpress.com] on Topsy.com says :

    […] IRS probing home-buyer tax credit claims: report « Urdu News, NewsPapers, Jung, Ummat, Dawn, Jazba,… urdunews.wordpress.com/2009/10/20/irs-probing-home-buyer-tax-credit-claims-report – view page – cached Urdu News, NewsPapers, Jung, Ummat, Dawn, Jazba, Nawa e Waqt, Jasarat – Urdu — From the page […]
    Oops…forgot to say great post! Looking forward to your next one.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: