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Political Factoid
The IRS has paid out more than $500 million in homebuyer tax
credits to people who probably did not qualify.
- $326 million to more than 47,000 taxpayers who didn't qualify as first-time homebuyers. (There is evidence they had already owned homes.)
- $7.7 million to more than 1,000 prison inmates.
- $11.4 million to more than 2,700 people who claimed purchases that other people also claimed.
- $17.6 million to 2,700 taxpayers who had bought homes before the credit was enacted.
- $97.8 million claimed by people who did not actually buy homes.
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