Will Illegal Immigrants Really Get A Huge Check From the IRS?
Whether you are for or against President Obama’s immigration plan, the fact that all the illegal immigrants in the country could file tax returns and claim refunds for the last three years, seems outrageous. However, according to the IRS, under the Earned Income Tax Credit, that is precisely what could happen. It doesn’t matter if a person has never even filed a return or reported any income.
Under the president’s plan an illegal immigrant could get a Social Security number, and then qualify for the Earned Income Credit for the last three years, thanks to a current IRS practice. That means even though someone who has only been in the country for a short time could actually claim money for three years just by acquiring a Social Security number and filing for the Earned Income Credit.
The country would literally be giving away billions of dollars in free money to people who are illegally living in the United States. However, according to reports, one U.S. lawmaker has already created a bill that would prevent undocumented workers from receiving this tax credit.
Representative Patrick McHenry is also concerned that the President’s actions could open the door to dozens of fraudulent returns and billions of dollars in lost tax revenue. He claims that any illegal worker in the U.S. that broke the law to get here should not receive benefits from the country’s tax system.
Empowering Leaders of Family Businesses
Transcript: Alan Olsen Welcome to American Dreams. My guest today is Lee Brower. Lee, welcome to today’s show. Lee Brower Alan, I’m delighted to be here. Thank you for having me. Alan Olsen Oh, I’m excited for this session night ugly. I’ve sat in classes with you. Management Consulting techniques, strategic planning. And…
Redefining Social Responsibility In The Financial Industry: Our Conversation With David Reiling
See David’s Recent Interview with Alan Olsen: https://www.youtube.com/watch?v=ztdtPfH9RAk&t=2s David Reiling is an accomplished social entrepreneur and innovator in the field of community development finance and financial inclusion. He has been the Chief Executive Officer of Sunrise Banks since 1995, and since then, he has successfully transformed Sunrise Banks into a leading player in the industry,…
NBA All-Star Weekend Economic Influence
Written by Ryan Hickman If you have walked around downtown Salt Lake City recently, you’d come across ginormous signs advertising the NBA. But not just advertisements for the local Utah Jazz, but for the annual pinnacle of NBA events: the 2023 All-Star Game. This annual event envelopes whichever city hosts the events, which include…