IRS Warns Tax Payers to Beware of De-frauding the First Time Homebuyer Tax Credit

The IRS just announced its first successful prosecution of first time homebuyer credit fraud and warned taxpayers to beware of this type of scheme.

Taxpayers should be wary of tax preparers who promise a huge refund.  Liability ultimately falls on the taxpayers, so be careful!

See the full story regarding the Tax Credit Fraud. Or you can see the full details of the First Time Homebuyer Tax Credit.  But act fast because you must close on the purchase by December 1st, 2009 to be eligible!