Posted on 10/24/2009 8:36:18 AM PDT by george76
Turns out more than four-year olds were getting checks.
Seems like everyone was in on this deal.
Even Americans who shouldn't have been.
Even those who weren't…Americans.
And the government all but saying, you want the candy, you got the candy!!
the fraud was so rampant, so widespread, so un-checked, and so under-reported that ...
Fraud on such a massive scale, that if Mr. George is right, had IRS agents themselves, among the abusers.
And this is about a lending program that was supposed to help first-time buyers get a home.
and administered by a bureaucrats clearly far from even competent.
(Excerpt) Read more at foxbusiness.com ...
Hope & Change
Obama intends to allow America to be looted/mugged as part of his reparations payback. I am more convinced than ever he is setting his goal as a total financial collapse of America and all our wealth to be transferred to those who did not earn it or other countries.
Shocked I say! [roll eyes]
Correct me if I'm wrong, but I don't think this one could be Obama's fault.
However, I am sure that when Obama does implement a program, it will be designed to give the money away to gays and minorities, and they won't have to commit fraud to obtain it.
Any bets those “dead peoples” were ACORN employees?
Ever wondered what would happen when the hood subculture managed to get in the "entitlement" driver's seat?
Wonder no more.
Start wondering now, how long can it last before imploding?
Wonderful!
Tell me more about the new and improved government ran health care.
Think that’s bad??? Wait until they start stealing Obozo HealthCare!
Is this a tax credit or a rebate? I’m not clear on the details of the first-time-homebuyer credit, but Cavuto makes it sound like all you have to do is fill out some paperwork after you buy your house, and soon after, the check is in the mail. IOW, a rebate.
Look at the bright side. If they buy the house next door, at least they won’t make much noise.
administered by a bureaucrats clearly far from even competent
******
I'm certainly not shocked or even surprised!
The IRS is so out of control it is pathetic. Since bureaucrats are UNION protected (can't be fired for incompetence) what do we expect?!
Maybe someone could explain how this scam would work?
It’s a tax credit, which means a 1040 would have to be filed. There are ways to circumvent the wait time and receive the funds upon the closing of a home purchase. But, just getting a check in the mail? I’m not getting it.
Best Answer - Chosen by Asker
You have to close on your house by Dec 1, 2009. On your 2009 taxes you will have to fill out a special form, and you will be able to claim an additional 8000 tax credit. As if you’ve paid 8000 additional in taxes. If you’ve paid $15,000 in taxes it will look as if you’ve paid $23,000. If you are normaly due back $2,000, you will get back $10,000. Best way to use this is to reduce your weekly payroll deduction between now and the rest of the year, and put the additional money into a bank account for your down payment.
Make sure you close by Dec 1st.
This is the government that thinks itself better than liberty.
It is a tax credit. It can be used as part of the downpayment or closing costs if the buyer is using certain state run mortgage programs (like NJMFA, New Jersey Mortgage Finance Agency) which help the less wealthy.
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