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.
Lessons of Life | Dick Buxton
Episode Transcript of: Lessons of Life | Dick Buxton Alan Welcome back. I’m sitting here today with Dick Buxton. Vic has a prolific career playing a role in helping several 1000s or hundreds of 1000s of over 1000 companies with the succession planning with the Aesop’s and he’s also prolific writer and has done much…
Golden State Warriors Owner | Joe Lacob
About Joe Lacob Lacob’s NBA and professional sports experience dates back over two decades, including a five-year tenure as a minority owner of the Boston Celtics, where he served on the basketball committee. He earned an NBA World Championship ring with the storied franchise before selling his minority stake and making an NBA record-setting…
Young Entrepreneurs | Billy Evans
Young Entrepreneurs | Billy Evans As we continue to dive deeper into a changing world, young entrepreneurs are bringing ideas to the table to solve tomorrow’s problems. Listen as Alan discusses Billy Evan’s business plan and how this young man is staying ahead of the trend. Interview Transcript: Alan Welcome back. Well, we have here…
Transitioning Industries as an Entrepreneur | Ramesh Manian
Episode Transcript of: Transitioning Industries as an Entrepreneur | Ramesh Manian Alan Welcome back. I have here today with Ramesh Manian. And from the station cafe in San Carlos, Ramesh, you have an interesting background. I understand that you’re a mechanical engineer. And then you got a degree in software development. But how did you…