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Want to get audited? Apply for homebuyer credit

WASHINGTON – Here's a good way to get audited by the Internal Revenue Service this year: claim the new homebuyer tax credit.

About a fifth of all IRS examinations done by mail in the past six months were for people claiming the credit, National Taxpayer Advocate Nina E. Olson told a congressional committee Thursday — the filing deadline for individual tax returns


Isn't this just dandy?

 
Anonymous

Asked by Anonymous at 6:10 PM on Apr. 15, 2010 in Politics & Current Events

This question is closed.
Answers (9)
  • Well, isn't that nice?

    Our son and his wife bought a home last July, they still haven't gotten the check!
    agentwanda

    Answer by agentwanda at 6:27 PM on Apr. 15, 2010

  • Anonymous

    Answer by Anonymous at 6:11 PM on Apr. 15, 2010

  • Oh goody! Get offered free money, end up audited.
    Anonymous

    Answer by Anonymous at 6:24 PM on Apr. 15, 2010

  • It's true. We filed my MIL's tax return at the end of January. We mailed in a hard copy of it because we had to include the HUD statement. Just this last Monday, she got a letter saying that the IRS is reviewing the return and it could be 45 days before she hears anything and when she does hear it will be 1) get the refund, 2) be denied, or 3) be asked to send additional information. My MIL is living on RR Retirement and Pension money from being a school teacher and this is the first home she has ever purchased (she's 89). It sure feels like a huge scam!
    Merjo

    Answer by Merjo at 6:52 PM on Apr. 15, 2010

  • Merjo, I'm so sorry to hear that! Hope everything goes well.

    The article says they hold your refund until after the audit. Talk about stressful.
    mancosmomma

    Answer by mancosmomma at 7:07 PM on Apr. 15, 2010

  • Merjo--

    It would not be unheard for an unscrupulous person who has previously bought a house, to enlist a family member who hasn't ever bought one as a "front" to qualify for the credit.

    The IRS is probably just being extra careful.
    LoriKeet

    Answer by LoriKeet at 7:26 PM on Apr. 15, 2010

  • Anon- there is no such thing as free money.. You are absolutely clueless.
    BEXi

    Answer by BEXi at 8:09 PM on Apr. 15, 2010

  • Exactly, Bexi. It's not free, and you get audited to boot, just for taking it.
    mancosmomma

    Answer by mancosmomma at 8:51 PM on Apr. 15, 2010

  • and for those that bought their house in 2008 and filed for the credit have to pay it back over the next 15 years. Houses bought after 2008 don't have to pay it back. I hope the ones filing for the 2008 year for the tax credit know this but unfortunately many people just see those thousands and don't pay attention to any of the paperwork.
    amyrw

    Answer by amyrw at 10:38 PM on Apr. 15, 2010

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