The IRS has announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme.
A tax-preparer in Jacksonville, FL recently pled guilty to falsely claiming the first-time homebuyer credit on a client's federal tax return and faces the possibility of jail-time, a fine up to $250,000, or both.
For more details, please visit: http://www.irs.gov/newsroom/article/0,,id=211399,00.html
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