Bikerdude
Thinks s/he gets paid by the post
- Joined
- Jul 4, 2006
- Messages
- 1,901
Yes! Welcome to the world of "Refundable Tax Credits"!
I wonder how these play into the stats that show things like ~ 50% of filers pay no taxes? How about the ones that get paid to file?
-ERD50
When I did taxes EIC refunds were big business as the recipients wanted their money as fast as possible. The SS cards for kids were routinely rented by parents who made too much for EIC to people who could get the credit. Sometimes netting $500 per kid for the ineligible parent. The IRS has started to audit some of these but the scams are still out there. EIC was supposed to replace welfare by making work pay.