I disagree with Bloomberg’s analysis here. Of all the theories listed, a drop in illegals filing makes the most sense to me. What do you think? Use the Facebook comments below.
The political rhetoric of President Donald Trump may be scaring some taxpayers. With the Republican promising to crack down on illegal immigration, undocumented immigrants may be afraid to create a paper trail with the government by claiming tax refunds.
John Hewitt, chairman and chief executive of Liberty Tax, raised the possibility in a call with analysts March 8. Undocumented immigrants often use individual taxpayer identification numbers (ITINs) rather than Social Security numbers to file. “Those ITIN filers are filing at a reduced level this year,” Hewitt said. They’re “probably fearful of the Trump initiatives.”
Source: Americans Aren’t Filing Their Taxes This Year – Bloomberg
