Amnestied To Receive Tax Credits On Taxes Never Paid? (Audio: Interview)
Merrill Matthews discusses with KMED's Bill Meyer Show how the IRS has confirmed that the newly amnestied will be eligible for the Earned Income Tax Credit (EITC)--which is definitely "income-based aid." The EITC is a sliding-scale, income-based, refundable tax credit wherein the federal government subsidizes low-income workers with taxpayer dollars. And once they have their Social Security cards they can file for EITC benefits for up to three years retroactively.