First Time Homebuyer Scams

[TAXBILLY]

The IRS is coming ...

http://www.irs.gov/newsroom/article/0,,id=211399,00.html

taxbilly

[Tax Prep by Deb]

The IRS is coming ...

http://www.irs.gov/newsroom/article/0,,id=211399,00.html

taxbilly

Thanks Taxbilly! It's not surprising.

Deb!

[ILLMAS]

I am just wondering if the tax preparer took the client word and not verified if he really was a first time home buyer. I love the R/E agents who advertise the 8K credit, they make it sound like everyone who buys a house qualifies for it.

[mcb39]

I had three for 2008 and had one checked right away. Am sure that I wrote about this before. We had to furnish copies of closing papers, tax transfer stamps, etc. I would never consider doing one of these without having copies of the closing papers in hand. (As well as answers to all of the other qualifiers)

[jainen]

>>just wondering if the tax preparer took the client word and not verified if he really was a first time home buyer<<

Not very likely. This case never even went to trial. Tax Preparer pleaded guilty to a felony, meaning IRS had him cold on multiple counts. Good riddance.

[kcjenkins]

http://www.webcpa.com/news/IRS-Warns-Homeb...a:&st=email

There are going to be a bunch of these. Well deserved, IMHO.

[JohnH]

Another addition to my list of reasons not to prepare these FTHB credits.

I see no need to wave a red flag at the bull even if everything is on the up-and-up.

I'm sending them to HRB - they have the deep pockets if something goes wrong.

[mlinder42]

I have done 5 of them the people had there HUD-1 form.2 have already received their money without sending additional forms.The preparer who was charged was the one starting the fraud not the clients.He recruited people and shared the refunds.This another case why we need to register preparers and no efins to non registered preparers.