Source: AP / CBS News
Living in prison didn’t stop nearly 1,300 inmates from cashing in on a popular tax break for first-time homebuyers, a government investigator reported Wednesday. Their take: more than $9 million.
A common scam had multiple taxpayers using the sale of a single home, with each claiming the credit. One home was used by 67 tax filers, the report said. In other cases, taxpayers got the credit for sales that happened before the tax break started.
The Internal Revenue Service says it is taking steps to get the money back. The agency noted that more than 2.6 million taxpayers claimed the tax credit through April – claiming $18.7 billion in credits – with only a tiny fraction going to prison inmates or other scofflaws.
1,295 prison inmates were able to get $9.1 million in credits, including 241 who were serving life sentences, according to the inspector general’s report. None of the inmates filed joint returns, so the claims could not have been for purchases by spouses.
To read this article in its entirety visit CBS News.
Sphere: Related Content
Related Posts
Source: USA Today
Local governments, once a steady source of employment in tough economic times, are shedding jobs in unprecedented numbers, ...
READ MORE
Roland Martin talks with Sec. Alexis Herman and Harry E. Johnson President and CEO of the National MLK Memorial Foundation ...
READ MORE
Source: AP / CBS News
WASHINGTON - President Barack Obama said Thursday that officials at the "highest levels" of the Iranian ...
READ MORE
Source: Mark Preston / CNN
Las Vegas – Republican presidential hopeful Jon Huntsman said Friday he was skipping next week’s Western ...
READ MORE
Visit msnbc.com for breaking news, world news, and news about the economy
A Florida woman is found guilty of attempting to ...
READ MORE
Source: Douglas Stanglin / USA Today
Family Radio Network preacher Harold Camping, whose prediction for the end of the world on ...
READ MORE
Source: CNN Money
NEW YORK - Millions of unemployed Americans are waiting for Congress to do something other than trade barbs ...
READ MORE
Source: Marc Stein / ESPN
After roughly 13 hours of negotiations over two days failed to close what he termed a ...
READ MORE
Source: Stephanie Condon / CBS News
As the "Occupy Wall Street" protests enter their third week and spread to cities across ...
READ MORE
Source: David Nakamura and Paul Kane / The Washington Post
There is a noticeably more aggressive, confrontational President Obama roaming the ...
READ MORE
Budget Cuts Claim Hundreds Of Thousands Of County,
MLK Memorial Dedication Sunday (VIDEO)
“Unusual” Meeting Between US, Iran Over Plot (VIDEO)
Huntsman To Boycott Presidential Debate
Woman Found Guilty In Plot To Kill Husband
Radio Preacher Now Says Oct. 21 Is Definitely
Millions To Lose Unemployment Benefits In 2012 If
NBA Cancels First 2 Weeks Of Season (VIDEO)
Herman Cain To “Occupy Wall Street” Protesters: Don’t
President Obama Goes On The Attack, To Democrats’
