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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (51038)	1/25/2006 12:22:29 PM
From: GraceZ	Respond to of 110194

I've spent some time helping people I know claim that earned income credit. It's ripe for fraud even though the forms now require you to use SS#s for your children. There are so many kids at the lower levels of income that either live with an adult other than a parent who isn't a legal guardian or go between parents. So consequently you have multiple adults claiming the same child. Plus, if you don't work at all, or don't claim any income, you can't get the credit. Since it's a negative income tax, I'm sure more than one parent who doesn't claim all their income tries to capture it. Truth is a lot of honest poor people would be best off walking into an IRS office and allowing someone there to help them fill out their 1040 and EIC forms for them. For everyone the IRS thinks is making a fraudulent claim, I'm sure there are twice as many that don't know enough to claim the credit in the first place.