4 Yr Old & Kids Get $4 Million in Tax Credits to Buy Homes

From the "can't believe its true" file: No one under the age of 18
can legally purchase a home. However, a four year old baby as
well as hundreds of other minors managed to provide
tax payer identification numbers (TIN) as part of the
qualification process in receiving U.S. federal tax credits
reserved specifically for first time home buyers.

"Through July 25, 2009, we identified more than 580
taxpayers younger than 18 years of age who claimed
almost $4 million in First-Time Homebuyer Credits. The
youngest taxpayers receiving the Credit were four years old.
Contract law generally exempts children under the age of 18
from being bound by the terms of a contract. Therefore, it is
unlikely that these taxpayers would have entered into an
arm’s-length transaction for the purchase of a home."

In other words, someone was using the unauthorized social
security number of some unsuspecting victim for perpetrating
identity theft fraud.

So, while technically its not supposed to be possible for a 4 year
old child to sign documents to purchase a home in America, we
see again that it is quite entirely possible for identity theft to be
committed using a tax payer identification number.

Our tip for today is to pull a credit report and especially a public
records profile (pip) on your children to insure no crafty identity
theft fraudsters haven't already run a scam.

PS: Please share this important identity theft tip with loved one
or friend.

$2.1 million Identity Theft Ring Hits Fed Chairman Bernanke

Federal Reserve Chairman Ben Bernanke's wife was
among the victims of an identity theft ring responsible
for over $2 million in fraud perpetrated by an "inside"
accomplice working for two D.C. area physicians.















In all, prosecutors say, the conspiracy ensnared
500 victims and accounts at least 10 financial
institutions.

During her year as the doctors' receptionist, Leake met
with Gray 20 times, she admitted. At each meeting she
handed over patients' information gleaned by photocopying
personal checks, and retrieving their birthdays and Social
Security numbers from files. In return, Gray paid Leake
between $200 and $500 for each victim's information.

Gray then took that information and used it to create fake
Maryland driver's licenses containing a victim's information
with a picture of another member of the conspiracy, court
documents said. The pictured co-conspirator then used the
bogus license to drain cash from bank accounts, sometimes
by cashing checks stolen from other victims by pickpockets.

Medical identity theft continues to be an effective way for
credit fraudsters to steal your hard earned money. It doesn't
matter how rich and powerful you are, as in the case of Chairman
Ben Bernanke and his wife.

So, our tip for today is to make sure you take the time to contact
your banks & credit card companies to get enrolled in automatic
credit monitoring for your accounts. Also, to safeguard against
medical identity theft which is not by design the purpose of credit
reporting, get your public information profile (PIP) reviewed for
any past or future instances of fraud using your good name.