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Thread: Earned Income Tax Credit (EITC) http://bit.ly/foyBWO

  1. government of the people, by the people, for the people
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    government is the responsibility of the people

    Default Earned Income Tax Credit (EITC) http://bit.ly/foyBWO

    Federal Issues .. Tax Credits: Earned Income - Child - American Opportunity - Congress
    Earned Income Tax Credit (EITC)

    Under Obama's Executive Action, illegal immigrants, at the expense of U.S. citizen taxpayers, can receive more than $35,000 in refundable tax credits by filing retroactive tax returns. http://bit.ly/1DW5MbF

    Audit finds that the IRS pays out billions in improper income-based tax credits
    to illegal immigrants filing fraudulent returns http://shar.es/137VJ9

    Under the Obama/Murray plan. EITC spending would increase to over $140 billion/yr. http://www.offthechartsblog.org/wp-c...3-26-14tax.PNG

    Earned Income Tax Credit (billions of $ to millions of families)
    2014
    2013
    2012 65.4 to 28.2
    2011 62.9 to 27.9
    2010 59.6 to 27.4
    2009 59.2 to 27.0
    2008 50.7 to 24.8
    2007 48.5 to 24.6
    2006 44.4 to 23.0
    2005 42.4 to 22.8
    2004 40.0 to 22.3
    2003 38.7 to 22.0
    2002 38.2 to 21.7
    2001 33.4 to 19.6
    2000 32.3 to 19.3
    1999 31.9 to 19.3
    1998 32.3 to 20.3
    1997 30.4 to 19.4
    1996 28.8 to 19.5
    http://www.irs.gov/uac/SOI-Tax-Stats-Historical-Table-1
    Tax Policy http://bit.ly/hbXi0n
    Wiki http://bit.ly/1hMmSMF
    IRS http://1.usa.gov/P1okAM

    Government Programs Improper Payment Rates

    http://www.paymentaccuracy.gov/track...edit-eitc-2012
    EITC has a 22.7% Error Rate ... STOP WASTING TAXPAYER MONEY

    Report EITC Fraud http://www.irs.gov/Individuals/How-D...ud-Activity%3F

    As of 2014, the maximum payments were:
    $6,143 with three or more qualifying children
    $5,460 with two qualifying children
    $3,305 with one qualifying child
    $496 with no qualifying children

    03-26-2014 According to the Center on Budget and Policy Priorities, under the Obama/Murray plan, EITC spending would increase to over $140 billion/yr. http://www.offthechartsblog.org/wp-c...3-26-14tax.PNG

    03-26-2014 Sen. Murray to launch 21st Century Worker Tax Cut Act http://thehill.com/opinion/op-ed/201...tury-workforce

    03-13-2014 President Proposes Doubling Tax Subsidy for the Poor http://www.thenewamerican.com/econom...y-for-the-poor

    03-09-2014 Obama's plan to expand EITC would make 7.7 million workers nationwide eligible for a larger credit, and would cover an additional 5.8 million workers not previously eligible.
    http://www.c-span.org/video/?318191-...edit-extension

    10-22-2013 IRS erroneously paid out $132.6 billion in tax credits http://bit.ly/16qgLdZ

    06-13-2013 IRS criticized for payment of $4B to illegals http://wtim.es/177w9vL

    04-16-2013 Fraudulent tax refunds yield a bonanza for illegal immigrants http://wtim.es/11gxRSS

    04-23-2013 No Surprise: The Overly Complex EITC is Plagued with Billions of Dollars in Improper Payments
    http://taxfoundation.org/blog/no-sur...roper-payments

    10-25-2012 Investigators: Child tax credit allows fraudsters a chance to cheat http://soc.li/yTroz0i

    Illegal Immigrants Continuing Ripoff of American Taxpayers - Tax Loopholes Investigation http://bit.ly/Pq87lK
    http://www.treasury.gov/tigta/auditr...ml#detailedobj

    Obama IRS refunds 'Illegals' $4.2 billion for kids--in Mexico http://shar.es/2uY7E

    Will lawmakers act to close tax loophole for illegal immigrants? http://bit.ly/IyLExs

    Illegal Aliens Getting Bigger Tax Refund Checks? http://bit.ly/IEst9r


    Depriving Illegal Immigrants of 'Child Tax Credit' http://bit.ly/zyMlHp

    2.3 million illegals received $4.3 billion in EITC tax refunds,
    in 2010...CONGRESSIONAL TESTIMONY........
    ILLEGALS HAVE TO GO.........NOW

    For tax year 2010, the maximum EITC
    for a person with three or more qualifying children,
    and an income of $16,449, is $5,666.


    Size of credit (tax year 2010) for Single, Head of Household, and Qualifying Widow(er).
    Earned income (x) Stage Credit (3+ children)
    $1$12,549 phase in 45% * x
    $12,550$16,449 plateau $5,666
    $16,450$43,349 phase out $5,666 - 21% * (x - $16,450)
    >= $43,350 no credit $0
    Earned income (x) Stage Credit (2 children)
    $1$12,549 phase in 40% * x
    $12,550$16,449 plateau $5,036
    $16,450$40,362 phase out $5,036 - 21% * (x - $16,450)
    >= $40,363 no credit $0
    Earned income (x) Stage Credit (1 child)
    $1$8,949 phase in 34% * x
    $8,950$16,449 plateau $3,050
    $16,450$35,534 phase out $3,050 - 16% * (x - $16,450)
    >= $35,535 no credit $0
    Earned income (x) Stage Credit (no children)
    $1$5,949 phase in 7.65% * x
    $5,950$7,499 plateau $457
    $7,500$13,449 phase out $457 7.65% * (x - $7,500)
    >= $13,450 no credit $0


    EITC recipients, many of whom are illegals,
    receive $50 billion dollars/year
    in refunded tax credits http://bit.ly/hbXi0n
    END EITC

    Whoever coined the saying "there's no such thing as a free lunch"
    never filed for the Earned Income Tax Credit
    http://bit.ly/edNq2Z
    Last edited by FACE-IT; 03-04-2015 at 05:38 AM.

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