Here’s what you get when the government owns the banks

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prescription drug insurance that covers viagra The Internal Revenue Service (IRS) will study whether it should make greater use of data on mortgage-interest payments provided to it by banks. The program, which searches for inconsistencies between mortgage payments and income, is currently used to send notices to non-filers who it believes should have filed a return. It could be used to target for audits individuals who report less income than they paid in mortgage interest.

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generic viagra super active The move will expand a regional research project on mortgage interest to a nationwide level by December 2011. Initiatives such as these typically involve examination of a small number of tax returns to evaluate new enforcement strategies. According to the Treasury inspector general, tens of thousands of homeowners who paid more than $20,000 in mortgage interest in 2005, the latest tax data available when the Treasury inspector general’s office began its audit last year, either didn’t file a tax return or reported income that appears insufficient to cover their mortgage interest and basic living expenses.

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