Skip to comments.We're getting a $54,000 tax refund! (only in America)
Posted on 04/02/2011 11:03:04 AM PDT by mandaladon
SMITHFIELD, N.C. (CNNMoney) -- The Wards couldn't believethe news when their tax preparer called to tell them they're getting a $54,000 refund this year.
Thelma Ward was speechless. She had to hand the phone to her husband so she could dance around the living room floor in shock. "I was thanking God like never before," she said. "We're just overwhelmed -- that amount was so huge it was unbelievable."
Even their tax preparer said she had to check the math -- 10 to 15 times.
"We couldn't believe it when we totaled everything up. We were like, that can't be right," said Dee Carter, owner of the local H&R Block where the Wards have brought their taxes for more than 10 years. "We had never seen anything like it before, so we had to check it over and over again."
So what's bringing this windfall? The federal adoption tax credit.
In the past few years, the Wards have expanded their already big clan of seven children by adopting five new kids. For each of these adopted children, they are eligible for a one-time tax credit of up to $13,170.
The credit has been around since 1997, but this tax season it is refundable for the first time -- which is the tax equivalent of hitting the jackpot.
A refundable tax credit lets you get the cash even if you owe no taxes. A non-refundable credit just offsets any taxes you owe, and then rolls anything remaining to the next tax year.
(Excerpt) Read more at money.cnn.com ...
That's because they didn't have to earn it.
My wife and I are adopting 2 children, I wasn’t aware of this. I knew about the credit but did not know that we could actually receive that much as a “refund”.
So my plan to adopt a kid and put a solar panel on him just might work.:)
you get an addition tax credit of 30% of the cost of the solar panel install.
$54k isn’t enough by a long shot.......
But the tax law allows parents who adopt "special needs" children to receive the entire credit even if they had no expenses.
“For each of these adopted children, they are eligible for a one-time tax credit of up to $13,170.”
If one were unscrupulous, one could adopt a few 17-year olds every year and make a killing. At 17, you can get them a part time job to pay their room & board, then boot em out at 18 and adopt a few more. Too bad I am not unscrupulous :(
Earned Income Tax Credit is also available to immigrants who obtain legal work status. But the law allows immigrants to claim EITC for up to three years prior to obtaining that status.
Workers simply file a tax return for the years in which they were not legally eligible to work in the US. The most widespread abuse stems from the requirement that children live with the worker for more than six months of the year. IRS does little to verify the claim.
Many immigrants claim non-existent children, or claim children who theyve left behind with relatives. Those with two or more children and income below $32,121 could get as much as $4,008. It is estimated that illegals got $22 billion EITC refunds.
Evidence shows illegals establish several identities with phony SS nos and fake documents (which "impoverished immigrants" buy from traveling document brokers for several thousand dollars).
The costs to struggling Americans to subsidize these parasitic illegals grows each day.
RIDING THE US GRAVY TRAIN An illegal alien w/ wife and five children violates our borders. He gets a job mowing lawns for $5.00 or 6.00/hour. At that low wage, with six dependents, he pays no income tax, so each year, he files an Income Tax Return to get "EITC---earned income credit" of up to $3,200 scot-free. He qualifies for Section 8 housing and subsidized rent. He qualifies for food stamps and no deductible, no co-pay free health care. His children get free school breakfasts and lunches. The kids qualify for monthly SSI checks, faking ADD; the illegal and his wife get SSI if they fake being aged, blind or disabled; SSI qualifies them for Medicare. Plus illegals don't worry about pricey items like car insurance, life insurance, or homeowners insurance, and qualifies for relief from high energy bills.
Illegal Jose Madrigal, the Washington state rapist, had some 30 identities.
EACH FAKE IDENTITY COLLECTS US GOVT FREEEBIES,
--- AND AS EVERY DESPERATE DEMOCRAT KNOWS ---
EACH ILLEGAL IDENTITY VOTES AND VOTES AND VOTES
So How does an impoverished Mexican illegal in the US for a "better" life get multiple identities: driver's licenses, passports, birth certificates and SS numbers?
NORTH BERGEN, NJ -- July 21, 2006 -- Pelcastre brothers, Angel and Jorge, Dallas, Texas, were a walking threat to US national security, expert document forgers who, for a few thousand dollars, could give anyone a new identity, authorities said.
The Texas brothers turned a NJ hotel room into a business office and were readying a massive cache of fake Social Security cards for delivery to a local NJ identity broker.
The Texas brothers were a "one-stop shop" for a myriad of fake US documents, including birth certificates, Social Security cards, driver's licenses for any state in the US, passports and resident alien cards, said state police. Officers happened upon two cars bearing Texas plates in a NJ hotel parking lot. Authorities wouldn't identify the NJ hotel by name for fear it would spark retribution. The Drug Interdiction Task Force, regularly runs checks.
The Texas brothers were followed to a NJ office supply store nearby where they purchased computer supplies. Officers then followed the Texans to a NJ storage facility in Secaucus, NJ, where the Texans loaded several boxes into a car. One of them stood lookout. Authorities approached the Texas brothers when they returned to the NJ hotel and questioned them separately. The Texas brothers consented to a search.
Police recovered laminating sheets with built-in security features, pages of blank documents waiting for fake names and information, finished documents, computers and software to create the fake IDs.
All told, the haul was worth about $500,000 on the street. Police also recovered $6,000 in cash, which was the first payment from a NJ fake document broker for a shipment of 500 Social Security cards.
Damn more adopted kids headed for cages. When people start earning money off of kids abuse is a step away.
My best wishes to you all.
So basically they gave the government a $54,000 interest-free loan.
For once I’m on the government side, if these children were in the system they were costing way more than 13k per year so it is probably a net savings for the government.
Paging Paul Ryan.
When we adopted in 97 we were hit with the alternative minimum tax.