The Senate Finance Committee says it plans to stop the Internal Revenue Service's policy of issuing tax benefit payments worth millions of dollars to people based on income earned in the US whether or not they have authorization to work in the country.
Finance Committee ranking member, Charles Grassley, who is also the Treasury Inspector General for Tax Administration (TIGTA) has discovered that the IRS pays a considerable number of tax credits to people who use Social Security Numbers (SSNs) that are not valid for working within the United States. He says that for the tax years from 1997 to 1999, the IRS paid out in excess of $2 billion in Earned Income Credit to people with such SSNs.
.
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment