{"id":10168,"date":"2009-10-25T12:46:09","date_gmt":"2009-10-25T19:46:09","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=10168"},"modified":"2009-10-25T12:46:09","modified_gmt":"2009-10-25T19:46:09","slug":"the-bad-news-tens-of-thousands-of-people-including-irs-agents-and-including-at-least-one-four-year-old-fraudulently-claimed-the-8000-first-time-home-buyers-tax-credit-the-good-news-when-these","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10168\/the-bad-news-tens-of-thousands-of-people-including-irs-agents-and-including-at-least-one-four-year-old-fraudulently-claimed-the-8000-first-time-home-buyers-tax-credit-the-good-news-when-these\/","title":{"rendered":"The bad news: Tens of thousands of people, including IRS agents and including at least one four-year-old, fraudulently claimed the $8,000 first-time home-buyer’s tax credit. The good news? When these morons take over your health care, you’ll probably die before you suffer too terribly much…"},"content":{"rendered":"

From Politics Daily<\/a>, the you-just-can’t-make-this-shit-up section:<\/p>\n

Four-year-olds are adorable, trustworthy, and, having never owned a home before, fully eligible for the first-time homebuyer tax credit that Congress passed in 2008. <\/p>\n

As a result of that loophole and numerous faulty reporting mechanisms, a House panel learned Thursday of tens of thousands of cases of fraud in the tax credit program, including more than 500 instances of people using their children — including a four-year-old — to apply for the credit to get around income caps and a requirement that the purchaser has never owned a home.<\/p>\n

Together, fake or faulty claims for the $8,000 refundable tax credit may have cost the government up to half a billion dollars so far, investigators told the Ways and Means subcommittee.<\/p>\n

Russell George, an inspector general with the Treasury Department, told the subcommittee about the most brazen instances of bogus claims that he had come across since the IRS created a filtering system last May to weed out suspicious applications. <\/p>\n

George said he had found nearly 20,000 returns for people who may not have actually purchased homes; thousands for people who already owned homes; 3,200 taxpayers who could not prove they were in the country legally; and an unspecified number of IRS employees wrongly applying for the credit.<\/p><\/blockquote>\n

It is completely implausible to me that anyone could expect anything other than disaster from government-run anything. I like to say that governments are only good at one thing — killing people — but even that isn’t true of the U.S. government: The Army expends 20,000 rounds of ammunition for every confirmed kill. No worries, though:<\/p>\n

This week Sens. Chris Dodd (D-Conn.) and Johnny Isakson (R-Ga.) began a push to expand the credit to all homebuyers and extend the deadline, now set for Nov. 30th, to July 2010.<\/p><\/blockquote>\n

Good plan…<\/p>\n","protected":false},"excerpt":{"rendered":"

From Politics Daily, the you-just-can’t-make-this-shit-up section: Four-year-olds are adorable, trustworthy, and, having never owned a home before, fully eligible for the first-time homebuyer tax credit that Congress passed in 2008. As a result of that loophole and numerous faulty reporting mechanisms, a House panel learned Thursday of tens of thousands of cases of fraud in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[251,24,29,5],"tags":[],"class_list":{"0":"post-10168","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","7":"category-egoism-in-action","8":"category-group-therapy","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":10285,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10285\/when-the-cash-for-clunkers-logic-comes-to-the-real-estate-market-its-time-for-every-homeowner-with-equity-to-cash-in-big\/","url_meta":{"origin":10168,"position":0},"title":"When the cash-for-clunkers “logic” comes to the real estate market, it’s time for every homeowner with equity to cash in big","author":"Greg Swann","date":"November 12, 2009","format":false,"excerpt":"It's cash-for-clunkers time in the real estate market. Last week, in addition to extending the $8,000 first-time home-buyers tax credit for another six months, Congress added a new $6,500 tax-credit for move-up buyers. The credit can be applied for homes selling for as much as $800,000, and the income limits\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10182,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10182\/please-do-not-extend-the-8000-tax-credit\/","url_meta":{"origin":10168,"position":1},"title":"Please do NOT extend the $8,000 tax credit","author":"Robert Worthington","date":"October 28, 2009","format":false,"excerpt":"If you are on the far left, there is no need to read any further, for what I am going to say, is from a capitalist \"conservative\" mindset (which only means to left wingers that...I must be a hate monger for not wanting to extend the first time home buyer\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10082,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10082\/estimate-to-extend-the-home-buyer-tax-credit-167-billion-what-a-bargain\/","url_meta":{"origin":10168,"position":2},"title":"Estimate to extend the Home Buyer Tax credit? 16.7 Billion What a Bargain!","author":"Scott Cowan","date":"October 14, 2009","format":false,"excerpt":"I was passed along an article today from the WSJ discussing the cost to extend the $8,000 tax credit and to open it to all people purchasing a home would cost $16.7 Billion according to congressional analysts. The article goes on to state that this is less than expected and\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12341,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12341\/first-time-home-buyers-tax-credit-the-morning-after-the-governments-gift-to-new-home-buyers-a-house-immediately-worth-8000-less-than-they-paid-for-it\/","url_meta":{"origin":10168,"position":3},"title":"First time home-buyers tax credit, the morning after: “The government’s ‘gift’ to new home-buyers? A house immediately worth $8,000 less than they paid for it.”","author":"Greg Swann","date":"June 22, 2010","format":false,"excerpt":"From the National Review Online:Things are looking worse on the housing front, with a severe drop-off in existing home sales following the expiration of the home-buyer tax credit. It's hard to overstate how stupid this policy was. The government marketed it as a measure to boost residential real-estate prices by\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8526,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8526\/8526\/","url_meta":{"origin":10168,"position":4},"title":"$8,000 Tax Credit Advance Friend or Foe?","author":"Scott Cowan","date":"May 20, 2009","format":false,"excerpt":"I have been following the $8,000 Federal Tax Credit with great interest this year. Currently it is the most talked about topic that I am discussing with potential home buyers. There is a lot of interest in receiving $8,000 when a first time buyer files their taxes for 2009. Now\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10225,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10225\/congress-extends-and-expands-the-home-buyers-tax-credit\/","url_meta":{"origin":10168,"position":5},"title":"Congress extends and expands the home-buyer’s tax credit","author":"Greg Swann","date":"November 5, 2009","format":false,"excerpt":"The Washington Post:Under the housing program, people seeking to own a home for the first time in three years would receive an $8,000 tax credit if they sign a contract by April 30 and close on it by June 30. Current homeowners who are buying a new primary residence would\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=10168"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10168\/revisions"}],"predecessor-version":[{"id":10170,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10168\/revisions\/10170"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=10168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=10168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=10168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}