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.

Posted in
Is Philanthropy Good for Capitalism?

Is Philanthropy Good for Capitalism?

Is Philanthropy good for capitalism? In 2013 Zoltan J. Acs wrote the book Why Philanthropy matters.  It explores the benefits of Philanthropy on the US economy; “…philanthropy as an underappreciated force in capitalism, measures its critical influence on the free-market system, and demonstrates how American philanthropy could serve as a model for the productive reinvestment…

George McGherin

George McGherin of The McGehrin Group

Transcript of George McGherin, of the McGherin Group, interview by Alan Olsen for the American Dreams Show: Alan Olsen: Welcome to today’s show I have with me, George. McGehrin George, welcome, George McGherin: Alan, it’s good to be here. It’s good to catch up with you. Alan Olsen: So, George, you’re a founder of the…

The Flip Transaction

The Flip Transaction: Bringing Your Foreign Startup into the US Investment Market

By Roger Royse, Partner, Haynes Boone, LLP in Palo Alto, CA. The flip transaction, bringing your foreign startup into the US investment market.  Non-US startups often arrive at the point where they wish to seek funding from a US venture capital firm or establish a presence in the US.  Sophisticated investors tend to prefer to…

Derek Lobo

Derek Lobo of SVN Rock Advisors

Derek Lobo of SVN Rock Advisors interview transcript, by Alan Olsen for the American Dreams Show: Alan Olsen: Can you give us your background of how you got to where you are today and start with your educational experience and the entrepreneurial model that that you built here? Derek Lobo: Well, you know, I guess…