IRS Audit News: Expect Increased Tax Audits Due to Taxpayer Abuse of First Time Homebuyer Credit
Friday, October 23rd, 2009The IRS is set to audit many more returns in 2009 and 2010 due to abuses by taxpayers of the first time home buyer tax credit. The first-time homebuyer tax credit is a tax break of up to $8,000 for qualified home sales before December 1, 2009.
Not everyone qualifies for this credit and I’ve also blogged about common misconceptions about the first time homebuyer tax credit. Knowing the rules and
