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.
The Future of Health Care | McKay Thomas
About McKay Thomas Since he was in high school, McKay Thomas has been an entrepreneur. Some of his companies have been, pooltables.com, baby.com and ainda.com Currently he is the co-founder and CEO of First Opinion, a company which matches a personal doctor to to their clients that they can contact 24 hours a day.…
Attention Triggers | Ben Parr
About Ben Parr Ben Parr is an award-winning journalist, author, entrepreneur, investor and expert on attention. Through his unique experience as a leading technology writer, venture capitalist and prolific public speaker, Parr has coached dozens of young startups and Fortune 500 corporations on how to get attention for their products. He was named one…
Beyond Baseball | Vida Blue
About Vida Blue Six time All Star, 3 time world series champion, MVP and Cy Young Award winner Vida Blue is quite a Baseball legend. Listen to his first hand experiences of what it’s like to play professional baseball and what’s the legend doing today? Interview Transcript: Alan Welcome back. I’m here today…
Disrupting The Aerospace Defense Industry with Additive Manufacturing | Kenneth Epstein
About Kenneth Epstein Ken is a principal with NewCap Partners & brings 20+years of investment banking & venture management experience, including P&L responsibility for both major business units and startups. His diverse client base includes private & family-owned businesses, strategic equity investors, large corporate venture funds, & material, high-tech & life science firms. Ken’s transaction…