Thursday, May 3, 2012

ISN'T AMERICA A GREAT COUNTRY?...THE BEAT GOES ON...LIFE IN OBAMALAND...DOES ANYONE CARE?

Tax loophole costs billions
 By Bob Segall - bio

Millions of illegal immigrants are getting a bigger tax refund than you. Eyewitness News shows a massive tax loophole that provides billions of dollars in tax credits to undocumented workers and, in many cases, people who have never stepped foot in the United States. And you are paying for it!
Note: This is part one in a two-part series. Read part two here.

INDIANAPOLIS - Inside his central Indiana office, a longtime tax consultant sits at his desk, shaking his head in disbelief.
"There is not a doubt in my mind there's huge fraud taking place here," he said, slowly flipping through the pages of a tax return.
The tax preparer does not want you to know his name for fear of reprisal, but he does want you to know about a nationwide problem with a huge price tag.
He came to 13 Investigates to blow the whistle.



"We're talking about a multi-billion dollar fraud scheme here that's taking place and no one is talking about it," he said.
The scheme involves illegal immigrants -- illegal immigrants who are filing tax returns.
How it works
The Internal Revenue Service says everyone who is employed in the United States – even those who are working here illegally – must report income and pay taxes. Of course, undocumented workers are not supposed to have a social security number. So for them to pay taxes, the IRS created what's called an ITIN, an individual taxpayer identification number. A 9-digit ITIN number issued by the IRS provides both resident and nonresident aliens with a unique identification number that allows them to file tax returns.

READ MORE...

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.