According to the US General Accountability Office (GAO), the $8,000 first time home buyer tax credit has spawned a lot of tax fraud, and the IRS has identified about 100,000 possibly fraudulent returns. It appears that billions of dollars have gone to taxpayers who weren’t eligible to take the credit–and the IRS wants its money back. A spokesperson for the agency stated that it will “vigorously pursue those who filed fraudulent claims.” Tax fraud carries penalties ranging from expensive fines to actual jail time with icky criminals and bad food. You don’t want to end up there. Continue reading ‘How to Take Your $8,000 Tax Credit without Going to Jail’
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