Forbes, January 7, 2016: (Blog) If Banning Negligent Low-Income Families From Taking Tax Credits Is So Great, Why Stop With Them?
“Congress has banned more low-income families who file erroneous tax returns from receiving refundable credits. If lawmakers think this is such a terrific idea, why stop at low-income households? For instance, why shouldn’t Congress bar trade associations from claiming tax-exempt status if they file improper reports to the IRS? Or prohibit hedge fund managers from enjoying preferential tax rates on their capital gains if they mess up their returns? If Congress thinks this nuclear option is such a strong disincentive for poor people, why not use it to punish all taxpayers for deliberately filing incorrect returns? Surely, they’d be an example to the rest of us.”