Massive Fraud Exploiting First Time Home Buyers Tax Credit

Watchdog J Russel George, the Treasury Inspector General for the tax administation, reporting that the government was defrauded of as much as $500,000,000 in stimulus money in wide-spread abuse of the First Time Home Buyers Tax Credit. In addition to 53 IRS agents filing false claims, he has found illegal aliens, people who were not first time buyers, and people who did not even buy a home were given the Tax Credit. Some people even used their 4 year old kids' names to defraud the government. George says, outlines were given to the IRS on how to manage the process, but were ignored.
Congress still wants to expand this flawed, failed program.