{"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_post_was_ever_published":false,"_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":""},"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":7402,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7402\/if-i-never-make-a-single-payment-on-my-super-cheap-fha-loan-do-i-still-get-my-8000-tax-credit\/","url_meta":{"origin":10168,"position":5},"title":"“If I never make a single payment on my super-cheap FHA loan, do I still get my $8,000 tax credit?”","author":"Greg Swann","date":"March 8, 2009","format":false,"excerpt":"WAPO:The last time the housing market was this bad, Congress set up the Federal Housing Administration to insure Depression-era mortgages that lenders wouldn't otherwise make. This decade's housing boom rendered the agency irrelevant. Americans raced to aggressive lenders, seduced by easy credit and loans with no upfront costs. But the\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}]}}