Treasury Reports on Tax Cheats in IRS

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The Treasury Inspector General for Tax Administration (TIGTA) has drawn up a report uncovering the offences of more than one hundred IRS employees who have claimed the first time home buyers credit even though they were not eligible for it.

The first time home buyers credit was put in force in 2008 and 2009 as an economic stimulus as one of the measures to revive the ailing real estate market. The credit can save you up to $8,000 in taxes. The TIGTA report stated that 128 IRS employees claimed for the home buyers credit even though some of them were not first time home owners and others did not buy their homes within the stipulated time period to qualify for the credit.

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