Wednesday, October 23, 2013
Earned Tax Credits.............WHAT?
WHAT IN THE WORLD?
The IRS is losing billions each year on Earned Income Tax Credits and they know it, and they have ways to prevent it, but they aren't? Check this out:
"The EITC is a refundable tax credit designed to transfer money to the working poor through the tax system. It allows the working poor to pay less in taxes or, if they have no tax liability, to get money.
Both the IRS and the auditors agreed it is a complex program and checking eligibility is difficult.
The program is popular with many lawmakers on both sides of the aisle who say it’s an effective anti-poverty tool, rewarding those who work."
"effective anti-poverty tool?" "to get money"?
And, as the article clearly states.........many are worried about how the IRS can manage the running of Obama Care when they can't even get their act straight on this.
Also, what do you think of the Earned Income Tax Credit?
Help me out here.
Posted by Z at 12:00 AM