Landlords with losses likely to be audited by IRS through 2016

Tara Steele — Wed, 13 Apr 2011 16:45:17 +0000

Landlords under close watch by IRS In December 2010, the U.S. Treasuring Inspector General for Tax Administration (TIGTA) recommended that the IRS handle tax returns with rental real estate activity in a new, more scrutinizing manner. The recommendations were based on a 2008 Government Accountability Office study of 2001 returns which found that “at least” 53% of returns with rental [...]

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Homebuyer tax credit audit shows fraud in the millions of dollars

Tara Steele — Thu, 24 Jun 2010 03:04:06 +0000

Tax credit system defrauded According to a report by the Treasury Department Inspector General for Tax Administration and internal Revenue Service, massive discrepancies have been identified. Although the homebuyer tax credit helped to stimulate the real estate sector, the system is apparently insanely simple to defraud. Millions were improperly paid out to people who applied early, and millions of checks [...]

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Landlords with losses likely to be audited by IRS through 2016

Homebuyer tax credit audit shows fraud in the millions of dollars