WASHINGTON — The Obama administration said Tuesday it was concerned about the cost of extending a popular tax credit for first-time homebuyers, a program already under scrutiny for fraudulent claims.
The Internal Revenue Service has opened 107,000 examinations of questionable claims and identified 167 criminal schemes involving the tax credit since it was expanded as part of the economic stimulus package enacted in February.
Key lawmakers said Tuesday they still wanted to extend the tax credit beyond the end of November, when it is scheduled to expire. But Housing and Urban Development Secretary Shaun Donovan said the administration is not sold on read more...
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