PositivelyUp Wrote:
May 24, 2012 9:00 AM
As Treasury Inspector General for Tax Administration reported in July 2011, and as an Indiana television station widely reported, undocumented workers have been claiming refundable tax credits for children who are not living in the United States. Refundable credits are those that can result in refunds even if a filer has zero tax liability. Exploitation the child tax credit has cost taxpayers billions. The Ways and Means Committee believes the provision passed will save taxpayers at least $7.6 billion over the next decade. The reconciliation measure that passed on 5-10-12 ,requires that every tax filer file a Social Security number for each child they claim the credit. ABOUT TIME...I suppose we can thank Obama's tax team for this dig!