re: Funny tax fraud situation.

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What exactly, makes the loan predatory?

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they are targeted towards stupid people who are desperate for quick money.

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What exactly, makes the loan predatory?

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Judging from the story, they probably took the loan out from a place that charges an outrageous weekly interest rate. I used the term "predatory" because everyone usually knows the negative connotation.

This is what happens when you try to cheat and scam the system.

Not big enough to go to jail, but it is criminal fraud.

Tax penalties could be huge too.

I have never heard of buying a personal exemption, but you learn something everyday.

So a Thursday in Donaldsonville?...

Trying to hard....move on people.

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I have never heard of buying a personal exemption, but you learn something everyday.

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A personal exemption is hardly worth the money, $3,950 @ 10% minimum tax bracket is $395 of tax savings. The benefit comes from being able to file head of household and claim earned income credit.

The most fun occurred when the earned income credit was changed to allow 3 children instead of just 2. People who had been selling the rights to claim that 3rd child suddenly reported the 3rd child while people who had purchased the ability to claim the 3rd child and wanted to continue claiming the child. All sorts of problems for the H&R Block types.

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The most fun occurred when the earned income credit was changed to allow 3 children instead of just 2. People who had been selling the rights to claim that 3rd child suddenly reported the 3rd child while people who had purchased the ability to claim the 3rd child and wanted to continue claiming the child. All sorts of problems for low-life trash.

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FIFY