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Tax loophole costs billions
This is a discussion on IRS loophole within the Off Topic & Humor Discussion forums, part of the The Back Porch category; After you read this, get ready to pull out your hair, if you've got any left. Tax loophole costs billions...
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IRS loophole
After you read this, get ready to pull out your hair, if you've got any left.
Tax loophole costs billions
“They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.” - Ben Franklin
NRA Life
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yep makes me proud. "You'll also hear why some undocumented workers say the credits are essential and should be left intact." my gues is some lawmakers would also agree that credits for undocumented workers is essentail. I'm less sure this is a loophole and more of a glory hole drilled by those lipstick limo bleeding heart types.
Whitestone Castle Armory, Austin TX
http://www.wcarmory.com/
Stuff For Sale http://forsale.wcptexas.com
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the system looses more money then it taks in with that stupid system
From the story: "the IRS does not currently have the legal authority to verify and disallow the Child Tax Credit and the Additional Child Tax Credit during return processing simply because of the lack of documentation."
So, if there is blame, put it where it belongs, on some prior Congress
(per Wikipedia "The program was created in 1996
for the purpose of tax filing of individuals without a social security account number.)* which wrote the law in this
way and failed to give IRS the appropriate investigative authority and manpower. It is not IRS's fault.
Here's a partial fix. Only 2 child dependent credits, regardless of SS or ITIN. You want to have 18 kids go on tv and become a celebrity, don't expect Uncle to subsidize you.
__________________________________________________ _____________________________
* Speaker of The House in 1996--- 104th Congress, January 4, 1995 —January 3, 1997' List of Speakers of the United States House of Representatives - Wikipedia, the free encyclopedia Look it up if you don't know.
P.S. I found this little gem on Wiki: "Deceased Taxpayers When requesting an ITIN for a deceased taxpayer, the deceased must meet all of the requirements established to get an ITIN."
Hope that didn't come word for word verbatim out of the tax code. I think I'd have a hard time
meeting the requirements once I'm worm food.
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Deceased taxpayers (their heirs) are still required to file a final tax return - if a person dies the first year here, they still need to get an ITIN in order to file.
I've had a return rejected for an add'l information request before the refund was sent - happens all the time. All the IRS has to do is program it's computer to flag returns with ITIN + CTC to request add'l information. It already has authority to this, demand add'l info, and prosecute those illegal workers for filing a fraudulent return as the CTC already excludes citizens of other countries that do not live here.
Yes, of course, but the wording I quoted (which may be from Wiki not the IRS code, I don't know) suggests theOriginally Posted by nedrgr21
following conversations:
Ghost walks into the IRS:
How may I help you?
I need to get an IEIN.
Do you have a passport?
No
Do you have a birth certificate? No?
Well were you here without documentation?
No.
Do you have a DL?
NO.
Do you meet the qualifications for an IEIN?
Well, I dunno, that's what you're gonna tell me?
But you don't have documentation? What happened to it?
Well it was in my suit pocket and my wife's new husband gave it to Goodwill.
Well surely you have something to prove your identity?
Will the etching from my gravestone work?
Sorry sir, that doesn't count.
Can you come back with a registered agent to assist you?
Well he's outside but he can't come in.
Why not?
Uh, He's armed.
Agent turning slightly pale....
Can you bring a lawyer to assist you?
Uh, he's armed too.
Agent turning a bit paler yet--"Its getting too warm in here."
Ghost... Let me help you with that, I'll stand closer.
"Great is the guilt of an unnecessary war."
John Adams. Second President of the United States.
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It's not a loophole.
It's out and out theft!
26 USC § 7207 - Fraudulent returns, statements, or other documents | LII / Legal Information Institute
Any person who willfully delivers or discloses to the Secretary any list, return, account, statement, or other document, known by him to be fraudulent or to be false as to any material matter, shall be fined not more than $10,000 ($50,000 in the case of a corporation), or imprisoned not more than 1 year, or both. Any person required pursuant to section 6047 (b), section 6104(d), or subsection (i) or (j) ofsection 527 to furnish any information to the Secretary or any other person who willfully furnishes to the Secretary or such other person any information known by him to be fraudulent or to be false as to any material matter shall be fined not more than $10,000 ($50,000 in the case of a corporation), or imprisoned not more than 1 year, or both.
~~~~~
The only common sense gun legislation was written about 224 years ago.
I carry always not because I go places trouble is likely, but because trouble has a habit of not staying in its assigned zone.
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too difficult for me to comment on....blame Bush!
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This country is down the tubes....
Some people will start trouble and then try to make it look like its your fault....
Sent by my IPad
Correction that was during the reign of Slick Willy AKA bill clinton.
When you have to shoot, shoot. Don't talk.
"Don't forget, incoming fire has the right of way."
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If you bother to look at the tax codes, you may legally never pay taxes again.
Don't believe what you hear and only half of what you see!
-Tony Soprano
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It takes NO act of congress to audit anyone...
H/D
A Native Floridian = RARE
IT'S OUR RIGHTS>THEY WANT TO WRONG
H/D
Sure it does. The authority has to come from Congress in the first place. The funds for doing so have to come from
Congress through appropriations, sometimes specific to a purpose.
The law here is basically sensible, but various Congresses from 1996 on have failed to provide adequate funds to
investigate fraud. See, too many people in our country want smaller government, don't want to pay for the investigators
needed to catch the criminals. As with everything else in life, you get what you pay for.
"Great is the guilt of an unnecessary war."
John Adams. Second President of the United States.
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[QUOTE=See, too many people in our country want smaller government, don't want to pay for the investigators
needed to catch the criminals. As with everything else in life, you get what you pay for.[/QUOTE]
I see, this is ALL our problem for not smaller government. You remember the SEC agents that were fired who were downloading p0rn all day long, during the financial meltdown? Hiring more govn't investigators to find frayd in the government is like hiring foxes to guard the hen house. How about rewarding private companies who find and prove fraud in the fed/state/local gov't with a percent reward from the realized savings. IE Investigative reporters with teeth.
Whitestone Castle Armory, Austin TX
http://www.wcarmory.com/
Stuff For Sale http://forsale.wcptexas.com
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