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Author: JAFO31 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127815  
Subject: Re: How low can we go? Date: 9/19/2012 3:12 PM
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CCinOC:




ptheland wrote: Now perhaps you're talking about people coming clean and starting to report all of their income (or more of it, anyway) instead of lying on their tax returns to get the ETIC. Because they have to change their lies to qualify for a mortgage, that might impact their fraudulent claim for EITC. That's a different issue.


"Whatever the tax issues are, I did my part by fully disclosing that they may no longer qualify for EITC, about which many expressed shock and dismay. Which is my point."

Peter also wrote: "There are no provisions in the tax code that bar a homeowner from claiming the EITC. I've prepared several returns where someone qualified for the EITC and had a mortgage."

And now you are changing your story, because you first wrote:

CC: {{{To keep this discussion on topic...when I originated home loans for low income people, I would have them sign a disclaimer indicating that they understood that by purchasing a home, they would no longer qualify for the EITC.}}}

So what exactly did you have them sign?

"They would no longer qualify" OR

"They may no longer longer"?

Regards, JAFO
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