I know this isn’t multifamily related per se, but it’s soasinine that I had to comment on it.
Apparently, a breakdown or loophole in tax fraud controls seemto have created a bit of opportunity for criminals to cash in onthe federal homebuyer tax credit. And I’m not just talking aboutthose engaged in white-collar criminal activity like cheating onone’s taxes. I’m taking about criminals whose current residencesare already paid for with tax dollars—our nation’s prisonsystem.
In a June 17 audit report issued by the Treasury inspectorgeneral for tax administration, it was found that an estimatedminimum 1,295 prison inmates, 241 of whom were serving lifesentences, applied for—and received—$9.1 million in homebuyer taxcredits. A cool $1.7 million of those funds went to those inmatesserving life terms.
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