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 Choose Whom to Lend to?
How to Choose Whom to Lend to? The world runs on money, and those who have the money typically control how things are run. That’s a very broad and general statement, and of course, there are many variables but for the most part, when money talks people listen. Thus, the role of venture capitalists, banks…
Important Qualities for Practicing Leadership
Important Qualities for Practicing Leadership What makes a great leader? There are several answers to this question and it really depends on whom you ask. I meet with many great business leaders and while they often identify many of the same qualities of great leadership no two answers are exactly the same. It usually takes…
Top Tech Issues That President Trump Will Face
Top Tech Issues That President Trump Will Face Just as the rest of the country waits in anticipation of President-elect Donald Trump’s inauguration, so too does the tech industry. It’s no secret that several top-level executives from more than one of the largest tech companies in America have clashed at times with the president-elect. However,…
Top Ways to Be Smarter About Handling Money
Top Ways to Be Smarter About Handling Money Whether they’re successful at it or not, almost everyone would like to be better at managing their money. The fact is money management plays a huge role in an individual’s personal wealth and financial well-being. While not everyone can be wealthy, everyone can be smarter with his…