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Old 06-25-2010, 10:00 AM
 
Location: Great State of Texas
86,052 posts, read 84,519,997 times
Reputation: 27720

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Best government money can buy.
The government employs all these folks to check the paperwork and yet this happens ?
If this were a private company..they'd be out of business.

Home Buyer Tax Credit: Fraud, Errors Persist - Yahoo! News (http://news.yahoo.com/s/usnews/20100625/ts_usnews/homebuyertaxcreditfrauderrorspersist - broken link)

Some snippets:

Roughly 14,100 Americans have received erroneous credits--totalling more than $26.7 million--through the program,

The program came under fire last fall when an earlier inspector general's report flagged more than $600 million in questionable claims and found that at least one 4 year old had obtained the credit.

"The good news is that the IRS has made significant strides resolving problems associated with this program," George said. "For example, no minors received the credit, according to our report."

The inspector general estimates that at least 1,295 prisoners fraudulently obtained more than $9.1 million in credits on their 2008 tax returns.
The report also found that 10,282 taxpayers obtained credits for purchasing the same homes that other taxpayers were using to claim the credit themselves.

In addition, the inspector general flagged 2,555 taxpayers--who received $17.6 million in credits altogether--based on home purchases that occurred before the program had launched.

Finally, the inspector general identified some 34 IRS employees who claimed the credit even though it's possible that they have owned a home within the past three years, which would make them ineligible for the full $8,000. In last fall's report, the inspector general identified an additional 53 agency employees who may have obtained the credit erroneously.
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Old 06-25-2010, 10:03 AM
 
Location: North America
19,784 posts, read 15,119,250 times
Reputation: 8527
Quote:
Originally Posted by HappyTexan View Post
Best government money can buy.
The government employs all these folks to check the paperwork and yet this happens ?
If this were a private company..they'd be out of business.

Home Buyer Tax Credit: Fraud, Errors Persist - Yahoo! News (http://news.yahoo.com/s/usnews/20100625/ts_usnews/homebuyertaxcreditfrauderrorspersist - broken link)

Some snippets:

Roughly 14,100 Americans have received erroneous credits--totalling more than $26.7 million--through the program,

The program came under fire last fall when an earlier inspector general's report flagged more than $600 million in questionable claims and found that at least one 4 year old had obtained the credit.

"The good news is that the IRS has made significant strides resolving problems associated with this program," George said. "For example, no minors received the credit, according to our report."

The inspector general estimates that at least 1,295 prisoners fraudulently obtained more than $9.1 million in credits on their 2008 tax returns.
The report also found that 10,282 taxpayers obtained credits for purchasing the same homes that other taxpayers were using to claim the credit themselves.

In addition, the inspector general flagged 2,555 taxpayers--who received $17.6 million in credits altogether--based on home purchases that occurred before the program had launched.

Finally, the inspector general identified some 34 IRS employees who claimed the credit even though it's possible that they have owned a home within the past three years, which would make them ineligible for the full $8,000. In last fall's report, the inspector general identified an additional 53 agency employees who may have obtained the credit erroneously.
Sounds like classic IRS FUBAR to me.
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Old 06-25-2010, 12:10 PM
 
Location: Central Maine
4,697 posts, read 6,450,481 times
Reputation: 5047
Quote:
Originally Posted by carterstamp View Post
Sounds like classic IRS FUBAR to me.
How so?

Seems to me that instead of blaming the IRS for not catching the crooks, you might want to assign responsibility to the crooks themselves; you know, all those fine upstanding American citizens who saw an opportunity to steal some money, and went for it.

But I guess honesty is an old-fashioned, out-of-date trait.
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Old 06-25-2010, 01:23 PM
 
Location: North America
19,784 posts, read 15,119,250 times
Reputation: 8527
Quote:
Originally Posted by GreenGene View Post
How so?

Seems to me that instead of blaming the IRS for not catching the crooks, you might want to assign responsibility to the crooks themselves; you know, all those fine upstanding American citizens who saw an opportunity to steal some money, and went for it.

But I guess honesty is an old-fashioned, out-of-date trait.

Nopers, didn't say anything like that. I said "sounds like a classic IRS FUBAR", and that's exactly what I meant.

I say the crooks should spend some quality time with Bubba in an 8X8 cell.

Clear, now?
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Old 06-25-2010, 01:43 PM
 
Location: Maine
7,727 posts, read 12,387,188 times
Reputation: 8344
Having bought a home last year, I filed for the tax credit. It took five months and repeated submission of forms and paperwork. I am surprised so many were able to fraudulently recieve the funds because there was so much proof of eligability required.
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