EITC is a grievous mistake, Advanced EITC adds insult to injury...in case no one knows, Advanced EITC is where a mooch with a job and a paycheck gets EITC each year, he/she can apply for “Advanced” EITC where the EMPLOYER has to dole out the expected annual payment adjust over each paycheck. The insult? The employer has to foot the cost of this until he files his own taxes each year. DISGUSTING
More on EITC....
In 2008, 25 million tax filers received $51.6 billion in EITC benefits. Of this amount, $50.5 billion was refundable in excess of their income tax liability. Also in 2008, some 25.3 million filers received $30.7 billion in child tax credit benefits, with more than 18 million of these filers getting $20.5 billion in refundable checks. Many families are eligible for both the EITC and the child credit. These are not refunds of overpaid tax; they are payments to people who have already gotten back everything that was withheld from their paychecks during the year.