I found an article today on Yahoo finance indicating that lots of taxpayers have claimed the first time home buyer credit on their 2008 tax return who aren't qualified for the credit. As lawmakers are looking at extending the Nov. 30 deadline and the possibility of expanding the credit to more buyers, this is not good news.
To read the article for yourself, the website is http://finance.yahoo.com/new/Congress-scrutinizes-problems-apf-3498429273.html?x=0
It is truly a shame that when the government creates a program to help taxpayers, there are always those who take advantage and ruin it for legitimately qualified taxpayers.
The real estate market has not yet recovered from the recession and the extention of this program until mid 2010 is desperately needed. Let's all hope Congress understands and continues and/or expands this credit.
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