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.
It All Comes Down to Making Choices
It All Comes Down to Making Choices The business world, just like life, is full of choices. Everything we experience in life comes with choices. Of course, some choices are very simple, like what shirt to wear on a given day, and others are extremely difficult, like where to invest your hard-earned money. So what…
Is Artwork a Good Investment?
Is Artwork a Good Investment? If you collect rare and expensive art then chances are your collection is one of your most prized possessions. There are all kinds of art collectors, including those who collect for a hobby, those who use their collection as a business and others who collect art as an investment. Therefore,…
What Does the Future Hold for the Venture Capital Industry?
What Does the Future Hold for the Venture Capital Industry? Like any business industry the venture capital industry is subject to ebbs and flows, which means changes are bound to occur. Trends come and trends go and those who are able to identify the newest and latest trends the earliest tend to be the most…
Building a High Trust Organization Requires Respect
Building a High Trust Organization Requires Respect One of the most important aspects in the success of any organization is trust. Employers have to be able to trust their employees, and at the same time, employees need to trust their employers. Additionally, clients must be able to trust their suppliers. Without trust it is very…