IRS eyeing homebuyer tax credit claims

The Internal Revenue Service says a Jacksonville, Fla.-based tax preparer is the first to be succesfuly prosecuted for fraud related to the federal first-time homebuyer tax credit.

James Otto Price III, 47, pled guilty on July 23 to falsely claiming the first-time homebuyer credit on a client’s federal tax return, the IRS said. He faces up to three years in jail and a fine of up to $250,000 when he is sentenced.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.