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.:)
unbelievable
you get an addition tax credit of 30% of the cost of the solar panel install.
12 Kids!!!!??!
$54k isn’t enough by a long shot.......
lol
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 :(
See tagline.
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 they’ve 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.
That's awesome.
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.
If people will stop and think...the tax credit gets special needs children out of expensive institutions. Good for the child and good for taxpayers. I don’t like government involvement in these things, until we can get the government out fo the social welfare business, this saves taxpayers money.
A tax credit should decrease your taxes due, not give you money you did not paay in.
This is all just a form of welfare.
And I just got a notice that I am being AUDITED!
Just damn!
If I win the lottery I am buying acreage in Wyoming and adopting 1,000 kids. lol.
Of course, there seems to be no consideration by anyone here on the expenses that went with those adoptions, or, if they were adopted through the state, the money saved by the state on moving those kids out of the state system and onto the family’s expense.
Things aren’t always so open and shut, are they? Going with that hypothetical state system, what would have been the cost to the taxpayer to raise those kids in the system until they were 18, and possibly future expenses because they never had a family structure and ended up in prison, etc?
Always think things through. Always examine the options.
Hey, great idea.... If I win the lotto I will adopt 1,000 17-year olds and put them to work. lol. Cha-Ching.
Heck, might even make it some kind of a cult and keep the girls around for a while as a harem after they are 18.
lol.
Actually, thinking about the full story a bit, I admire the heck out of these people. God Bless them.
Coupon clipping for children?
There should be no monetary incentives for child adoptions.
Wait until Planned Parenthood hears about this and moves to Plan B.
What they are doing is great...what I don’t agree with is the government handing out tax payer’s money for any reason at all. I totally reject any kind of government welfare.
What a country we live in. Subsidies are called tax credits and tax cuts are called subsidies. Up is down, black is white, high is low and next it will be right is left and left is right
Another reason to go with the FairTax or other form of national retail sales tax.
Brad and Angelina sure could use the money.
Leni
In principle, I don’t like to see ‘tax refunds’ going to those who don’t pay taxes, and I don’t like to see the fedgov getting so involved in these situations. However, I find this family very sympathetic, and I admire them for fostering and adopting children in need.
Go for it:)
I got this email
*********************
The Bread Winner!
I was speaking to an emergency room physician this morning.
He told me that a woman in her 20s came to the ER with her 8th pregnancy.
She stated, “my momma told me that I am the breadwinner for the family.”
He asked her to explain.
She said that she can make babies and babies get money for the family.
It goes like this: The grandma calls the Department of Child and Family Services and states that the
unemployed daughter is not capable of caring for these children.
DCFS agrees and states that the child or children will need to go to foster care.
The grandma then volunteers to be the foster parent, and thus receives a check for $1500 per child per month in Illinois. Total yearly income: $144,000 tax-free,
not to mention free healthcare (Medicaid) plus a monthly card entitling her to free groceries, etc,
and a voucher for 250 free cell phone minutes per month.
This does not even include WIC and other welfare programs.
Indeed, grandma was correct in that her fertile daughter is the “breadwinner” for the family.
This is how the ruling class spends our tax dollars.
Sebastian J. Ciancio, M.D. Urologist, Danville Polyclinic, LTD
Is this a GREAT COUNTRY or what...?
Don’t forget to pay your taxes!
There are a lot of “Breadwinners” depending on us!
The big question in my mind is can they take care of these kids, or will they (without depending on taxpayers to do it). No way to know.
I wonder if the same kids can be adopted year after year... that could be a good gig if it's allowed.
This will happen when adopting becomes a commercial industry in partnership with the federal government....count on it.
Leni
Get somebody to adopt you.
So what’s stopping some scumbag from adopting a kid, getting a refund, then putting the kid back to the adoption agency?
Hope you have better luck than me. I tried a windmill on mine. Didn't end well.
The E.I.T.C. was first proposed by Nixon, signed into law by Ford and increased under every administration since, without exception.
I tell you, I'm glad I have a job, because they are dependent upon me to pay for their lifestyle.
It's like selling blood - diseased trash ( and a few college students ) come a running.
Strap a windmill backpack on him for a trifecta!
Another way the left gives our tax money to others who have no taxes to pay, yet get money termed a “tax refund”.
When the government is spending our dollars like crazy and every dollar spent has 40 cents of it borrowed, this adoption credit is nuts. Sure, adopting kids is great and a social plus, but why in heck do I and others who don’t adopt and do pay our legal tax bill have to reward others who end up paying no taxes and even get more money back?
I “thought” about adoption...can’t I get some kind of refund for that?
After all, our illustrious leader only “thought” about peace and got a Nobel out of it. Seems to me the same should apply.
Is it welfare? Only if one presumes it is the government’s money to begin with.
They are getting a tax credit for the adoptions against taxes paid. Those accrued over years. They are taking children out of the state system. That saves the taxpayer money. The special needs kids get the full rate because they have the most expense. Those expenses may last a lifetime.
Plus, they did all this not knowing they would be receiving the money. The tax preparer found the deduction. In other words, they did it anyway scraping by to take as many as they could.
Saved the state years and years of expenses while put against taxes they paid plus their costs for the adoption plus their assumption of the full costs of the children.
Where are they getting over? I don’t see it.
In the long run, it's probably a pretty good deal for all around.
It's a one time refund and I am sure it costs WAY MORE than 13k to keep a kid in foster care for a year
Plus the kid gets a home too boot
This is different than a kid in foster care since that is a perpetually state monthly paycheck.
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