Treasury, IRS move to restrict refundable tax credits to certain immigrants
The proposal would restrict four refundable credits to eligible taxpayers and could save $700 million to $2.6 billion, Treasury and IRS said.
- On Wednesday, August 19, the Treasury and Internal Revenue Service proposed new regulations to restrict refundable tax credits for noncitizens, preventing individuals ineligible for federal benefits from receiving payments reserved for Americans.
- President Donald Trump directed this action following his February 2025 executive order titled 'Ending Taxpayer Subsidization of Open Borders,' as the administration seeks to strengthen enforcement of the Personal Responsibility and Work Opportunity Reconciliation Act.
- The proposal affects four refundable tax credits, including the Earned Income Tax Credit, with Treasury and the IRS estimating that 200,000 to 700,000 taxpayers would become ineligible, potentially saving $700 million to $2.6 billion.
- Treasury Secretary Scott Bessent said, "Under President Trump, the days of illegal aliens collecting taxpayer-funded benefits are over," asserting that federal law is clear on eligibility requirements.
- IRS Chief Executive Officer Frank J. Bisignano stated, "Today's proposed regulations ensure that federally funded benefits are reserved for eligible taxpayers," with rules applying to tax years ending after final regulations are published.
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Treasury and IRS propose to limit reimbursable tax credits for certain immigrants. The bill could affect millions of low-income people
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Scott Bessent works to save taxpayers $3 billion by shutting down tax funding for illegal aliens * WorldNetDaily * by Bob Unruh
Source link U.S. Treasury Secretary Scott Bessent (Official White House photo by Daniel Torok) Illegal aliens routinely have been getting checks paid for with the taxes on American citizens, and Treasury Secretary Scott Bessent says he’s working now to stop it. “Sometimes you read about a crackdown on benefits received by illegal aliens and think to
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