Friday, July 22, 2011

IRS Staff Committed Tax Credit Fraud

I know this may come a shock to most of you out there but a federal tax credit program once again was wrought with fraud and new information shows that (so far) 128 IRS staff members have been caught being bad.
The following information comes from the referenced Washington Times article:
Among the bogus claims the inspector general identified, totaling up to $513 million in unwarranted payouts, were:
• 13,448 taxpayers who claimed the credit on a house they said they hadn’t bought, but promised to buy in the future.
• Nearly 50,000 taxpayers who appeared to have owned the home for up to three years, in violation of the credit’s eligibility requirements.
• More than 1,000 prisoners who received the credit despite being incarcerated at the time.
• Thousands of taxpayers who claimed the credit for a home for which someone else also claimed the credit.
Who else is in favor of a flat tax - no deductions - no loopholes - nobody is exempt?

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