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Thursday, May 10, 2012

IRS Loophole Costing Taxpayers $4 Billion Per Year!


While a media report out of Indiana has just now highlighted an IRS problem that is outrageous, I have already taken actions to fix it. Many friends have forwarded this video and report to me recently. If you haven’t already seen the news report that is going viral on the internet, I encourage you to watch this link. It is 6 ½ minutes and worth your time.

http://www.youtube.com/watch?v=0gwWaKkV6RM

I became aware of this issue in the fall of 2011. Illegal aliens are filing false tax returns claiming numerous fake child tax credits. Once our tax dollars are in the hands of illegal aliens, it’s impossible to get the money back. Once I learned about this outrageous loophole that allows billions of dollars per year to be stolen from US taxpayers, I knew I had to act.

In November of 2011, I joined Rep Sam Johnson in introducing H.R. 1956, Refundable Child Tax Credit Eligibility Verification Reform Act, to close this loophole. The bill is necessary because the IRS claims that they are simply following the law. We had hoped that the IRS would act without legislation.
One would think that the White House would instruct the IRS to stop giving away tax dollars to illegal aliens scamming our tax system. This is an urgent and immediate problem, especially as we’ve passed the tax filing deadline of April 15th.

The child care tax credits have grown from $924 million in 2005 to $4.2 billion last year. H.R. 1956 will curb the fraud in this program by requiring the IRS to only allow this tax credit for children with a social security number. H.R. 1956 was assigned to the House Ways and Means Committee and I am waiting for the hearing to be scheduled any time. The sponsor and cosponsors are urging our colleagues in the House of Representatives to move this measure and a fix this problem as soon as possible.

I’m as outraged about this as you are and I’m glad that the issue is finally getting some attention. Perhaps the White House and the Congress will act now that the media is picking up the story.

Andy

4 comments:

Gerald Mcrainey said...

The tax loop holes for companies to move their factories over seas are a much bigger threat to our economy that these loopholes. But Harris just like to rile people up around wedge issues like this, and spread fear and hatred. He is a disgrace, and he is wasting our money and his time.

Anonymous said...

I'm just glad someone is starting somewhere.

Anonymous said...

Looks like "Gerald Mcrainey" doesn't understand. It's all a big cycle....the Gov gives away taxpayer money to people and agency's that don't contribute anything and go after businesses and tax them to death to replenish their coffers. Where do you expect businesses to go to make money??????

Anonymous said...

How do I find out when this tax reform was put into motion