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.
How to Make Your Nonprofit Vision Happen
How to Make Your Nonprofit Vision Happen Many high-net-worth individuals come to the realization that they want to do something good and noble with their money. They understand that they are fortunate to be in their particular circumstances and they want to give something back. There are many ways to do this, from donating money…
Best Luxury Hotels in America
Best Luxury Hotels in America Luxury Hotels If you’re like most people then you love to get away from time-to-time and check out exotic locations all over the world. There’s nothing quite like a relaxing vacation where you can leave all your worries behind for a few days and get in touch with your lazy…
Is Repealing Obamacare for the Better or Worse?
Is Repealing Obamacare for the Better or Worse? Since the Affordable Care Act (aka Obamacare) became law, many have decried its terms and conditions, as well as how it negatively affects so many Americans and business owners. Republican lawmakers have tried unsuccessfully to repeal it since its inception. However, that could all be about to…
The Path to Successful Entrepreneurship
The Path to Successful Entrepreneurship The road to becoming a successful entrepreneur is often long and tedious, full of trial and error and setbacks. However, for those who are able to persevere and overcome those setbacks, the rewards can be significant. The world is full of people who dream of becoming an entrepreneur. Some of…