Quoted in Newsweek and taped a piece for CNBC yesterday. Why is it so hard to steer away from the cliff? In 1980 the IRS insisted that infants be given SSNs at birth - you guessed it - to prevent fraud. If your parents checked the little box on your birth certificate paperwork they gained a tax deduction. How ironic that the IRS doesn't check this number! In fact, people have been able to add non-existent children to tax returns right up to the present just by making up a SSN. Even if the IRS starts checking today, the cost of paying out for ten fictional children is still below their action level. Happy returns of the season!
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