IRS Audits More Wealthy Americans
3 minutes read
The Internal Revenue Service is intensifying its scrutiny of wealthy Americans.
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First-Time Homebuyer Credit Under Tremendous Scrutiny by IRS
2 minutes read
The First-Time Homebuyer Credit (FTHC)–where qualifying taxpayers can receive up to an $8,000 tax credit–is under tremendous scrutiny by the IRS as it has been earmarked this year as a credit that is likely to be abused. This is not surprising considering the huge amount of money the IRS could stand to lose due to erroneous claims. However, those that legitimately qualify for this credit MUST be diligent in the documentation they provide in order to receive this credit. The IRS has just...