InfoAnda - Treasury Official Says Over $600 Million Of Credit For First-Time Home Buyers Are Suspicious

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

China plays cards close to chest in military transparency bid | | 24 July 2012
Seasoned users shun spontaneity on the Web: survey | | 20 April 2011
Pakistani bounty placed on anti-Islam filmmaker | | 23 September 2012

Gbagbo hints at possible talks in Ivorian poll row | | 10 December 2010

Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles Treasury Official Says Over $600 Million Of Credit For First-Time Home Buyers Are Suspicious October 24, 2009 1:00 p.m. EST AHN Staff Washington, D.C. (AHN) - The Office of the Treasury Inspector General for Tax Administration has observed about 90,000 ineligible and suspicious claims of tax credits totaling over $600 million under the federal tax credit program for first-time home buyers. Treasury Inspector General Russell George revealed his agency's findings in a hearing this week of the Subcommittee on Oversight of the U.S. House of Representatives' Committee on Ways and Means. The tax credits are granted under the Housing and Economic Recovery Act of 2008, which initially allowed a maximum $7,500 one-time tax credit to Americans who bought a principal residence from April 8, 2008 to July 1, 2009. Section 1006 of the HERA extended the credit to home purchases from Jan. 1 to Dec. 1, 2009 with a maximum tax credit of $8,000. Congress set aside $13.6 million for the tax credits in HERA, of which $4.3 billion is estimated to be paid out in fiscal years 2009 and 2010. However, as of Oct. 9, 2009, over 1.2 million tax returns with claims of almost $8.5 billion had been processed by the Internal Revenue Service. Among the findings of the Office of the Treasury Inspector were 19,300 electronically filed 2008 tax returns in which the taxpayer claimed the credit before the house was purchased. Claims of this kind reached over $139 million. They also found out that 74,000 taxpayers entered information on any of the past three years that indicated they may have owned a home. Returns of this type reached more than $500 million. Another anomaly was identification of more than 580 taxpayers who were younger than 18 years old, but claimed almost $4 million in first-time homebuyers credits. They youngest claimant was a four-year old child. Despite those dubious claims, George said the program played a significant role for millions of American taxpayers. However, he expressed concern about the IRS' ability to effectively administer the credits claimed within the original deadline, made more cumbersome with the extended deadline for some taxpayers. Copyright © 2003 - 2009 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2009 AHN All Rights Reserved

Other News on Sunday, 25 October 2009
Egyptian passenger trains collide, at least 14 dead
New German govt to slash taxes
Suspected ETA militants charged in France
Karzai rival says won't join Afghan government | International |
Saudi female TV journalist gets 60 lashes
Obama urges banks to help small businesses
Protesters demand UK pullout from Afghanistan
Egyptian passenger trains collide, at least 15 dead | International |
Saudi female TV journalist gets 60 lashes | International |
Influential Iran lawmakers criticise nuclear deal
Abbas should face trial for usurping power: Hamas
Russia's Medvedev says open to election law ideas | International |
UN to inspect atomic plant as Iran delays nod on deal
U.S. says Syria should release 78-year-old dissident | International |
Strong quake hits eastern Indonesia, causes panic
Lost keys lead NJ police to burglary suspects
US mulls direct talks as N.Korea nuclear envoy visits
15-year-old charged with murder of Mo. girl
Army captures Pakistani Taliban leader's hometown
Ensign resignation would set up Nevada scramble
Indonesia lifts tsunami alert after powerful quake
How does Ore. candidate roll? With MS, on a Segway
Another strong quake hits Indonesia
AP NewsAlert
Could letting pilots take a nap make flying safer?
Former child soldiers move on in Sri Lanka
Nunn not too pleased with its politicians
Maine girl born with 'mermaid syndrome' dies at 10
China-Guinea deal highlights Africa business ties
American sees changes in his North Korean hometown
Balloon boy's mother admits hoax: affidavit
Patients _ and patience _ in health care end game
Myanmar could ease Suu Kyi detention
'Paranormal Activity' scares up box-office delight
AP interview: Cosby keeps it clean for humor prize
Major quake strikes off Indonesia: seismologists
Domestic Violence Abuse Victims In Illinois Call For Reform Due To Large Number Of Unserved Protection Orders
Treasury Official Says Over $600 Million Of Credit For First-Time Home Buyers Are Suspicious
New Jersey Priest Found Dead; Police Suspect Homicide
UN team to visit Iran uranium plant
Britons killed on Kenya holiday: Foreign Office
U.N. experts in Iran to inspect new nuclear site | International |
Recession or not? US economy likely to be in limbo
Taliban call for Afghan vote boycott, threaten violence
Pakistan troops retake Taliban stronghold in Waziristan | International |
Karzai rival says won't join Afghan government | International |
Egyptian passenger trains collide, at least 14 dead
New German government to slash taxes
Ukraine PM enters tight presidential race
Obama declares swine flu emergency
Iraqi court seeks arrest of Sunni MP
Egyptian passenger trains collide, at least 15 dead | International |
Israeli police, Arabs clash near Jerusalem mosque | International |
Winds shift as fire burns Puerto Rican oil depot | International |
Pakistan troops retake Taliban stronghold in Waziristan
Church janitor charged in slaying of NJ priest
Sydney Harbor Bridge becomes grassy picnic ground
Australia, China discuss detained Rio executive: Rudd
Patients _ and patience _ in health care end game
Mother praises police searching for girl's killer
SKorea: Summit should help resolve nuclear dispute
Pakistani army takes Taliban chief's hometown
Last-gasp Smith saves Australia in Four Nations
Lawyer blasts release of affidavit in balloon case
Chinese hurdler Liu advances to 110m hurdle final
Thousands gather for worldwide climate protests
Jettisoned bomb destroyed at Utah's Hill AFB
EPA: Climate bill could cost family $100 annually
US, N.Korea hold nuclear talks in New York
SC Episcopalians to distance from national church
US military deaths in Afghanistan region at 807
Taliban threaten Afghan voters in November runoff
Thailand, Philippines seek rice row solution: minister
Indian carmaker Maruti sees quarterly profit jump 93 pct
At 37, Paul Simon's son makes his musical mark
First black woman tipped for top French book prize
Placido Domingo tries out Verdi baritone role
Italian wine harvest shows good quality but drop in quantity
Anti-Semitism on the rise in France: Jewish community group
Party over mood at Russian 'Millionaire Fair'
'Sweat lodge' tragedy shines spotlight on ancient ritual
Polanski could face two years prison if extradited | Entertainment |
Sony looks for box office hit with This Is It | Entertainment |
At 37, Paul Simon's son makes his musical mark | Entertainment |
Suicide bombs kill 132 in Baghdad | International |
Young entrepreneurs get tips from Facebook-Twitter
U.N. experts inspect Iran's new nuclear site | International |
Israeli police, Arabs clash near Jerusalem mosque
Pakistan forces bomb Taliban in South Waziristan | International |
Twin suicide vehicle bombings kill 99 in Baghdad
Israeli police storm Jerusalem's holiest site
UN inspectors to check controversial Iran atomic plant
Asian leaders seek to reduce Western trade ties | International |
UN inspectors visit once-secret Iranian site
Twin suicide car bombs kill at least 38 in Baghdad
Twin Baghdad blasts kill at least 14: medics
Suicide bombs kill 132 in Baghdad
British police pursuing leads in Lockerbie case | International |
Uruguay vote pits ex-guerrilla and former president | International |
Singh to Wen: Dalai Lama an honored guest | International |
Somalia's Shabaab rebels execute two for spying | International |
Pakistan forces bomb Taliban in South Waziristan
Protests in Kashmir over a killing by Indian army
Japan navy holds review amid questions over future
Australia edge India in one-day international
Asian leaders give rival visions for economic blocs
Kidnapped priest alive but unwell, says mission
Japan PM in no hurry on US base relocation deal
World solar car race begins in Australia
Nuclear energy becomes pivotal in climate debate
Taiwan president vows to press for China detente
The nation's weather
Scottish police 'reviewing Lockerbie bombing probe'
Reformatory's closing prompts reflection
Chinese ship collides with Belgian cargo vessel
Look at insurgent groups on Afghan-Pakistan border
Obama declares swine flu a national emergency
SKorean railway workers vote to strike
Global events mark magic number on climate change
China proposes Taiwan economic cooperation talks
Pilot who overshot airport denies crew was napping
Asian leaders' rival visions for economic blocs
JAL new state-backed agency restructuring: reports
S.Korea nuclear power unit resumes operation-Yonhap
China to keep yuan weak until crisis over: experts
Japanese automakers' hydrogen car drive
'Polygamy club' draws criticism in Indonesia
Strong quake hits eastern Indonesia, causes panic
US-ENTERTAINMENT Summary
HK investors see wine as good bet for capital growth
From Canada to Argentina, fans shake to "Thriller"
For Zimbabwe's deportees, shame at empty-handed return
Composer Lloyd Webber has prostate cancer: BBC | Entertainment |
Ex-Smiths singer Morrissey stable after collapsing on stage | Entertainment |
Singer Morrissey released from hospital
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01