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What’s the concern with a refundable tax credit? I like the re-use of infrastructure and the strong precedents for prosecuting tax fraud cases that would be aut
by sokoloff 3y ago
What’s the concern with a refundable tax credit? I like the re-use of infrastructure and the strong precedents for prosecuting tax fraud cases that would be automatic if we ran it as a tax incentive program.
- JumpCrisscross 3y ago> What’s the concern with a refundable tax credit? It requires the recipient file taxes in a timely manner; is paid ex post facto, which means expenses are being reimbursed in arrears; and requires good money management to last the whole year. Imagine if unemployment were a refundable tax credit: you get it, lump sum, credited against your taxes after you’ve been laid off.
- sokoloff 3y agoGive the mother one year's worth of check in advance when the kid leaves the hospital (or when adoption is finalized). Then the first year was pre-paid and all subsequent years are pre-paid (from a timing perspective as well) via the taxation system.