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.

Posted in

Tax Loophole

Tax Loophole Transcript: I don’t want to brag or nothing, but I got a tax loophole named after me.   To receive our free newsletter, contact us here. Subscribe our YouTube Channel for more updates. This transcript was generated by software and may not accurately reflect exactly what was said. Alan Olsen, is the Host of the American Dreams Show…

Counting Beans

Counting Beans Transcript: 1…2…3…5…18…42…203…What? 560…800…   To receive our free newsletter, contact us here. Subscribe our YouTube Channel for more updates. This transcript was generated by software and may not accurately reflect exactly what was said. Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com.  GROCO is a premier family office and tax…

Password

Password Transcript: Man, I need a new password for my computer that no one would guess…I got it! I-love-taxes. Haha!   To receive our free newsletter, contact us here. Subscribe our YouTube Channel for more updates. This transcript was generated by software and may not accurately reflect exactly what was said. Alan Olsen, is the Host of the American…

Feelings

Feelings Transcript: So, you’re saying that I should own my feelings… but my accountant said that it would be smarter if I lease them.   To receive our free newsletter, contact us here. Subscribe our YouTube Channel for more updates. This transcript was generated by software and may not accurately reflect exactly what was said. Alan Olsen, is the…