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What is an ITIN loan?
In the aftermath of 9/11, Congress passed the Patriot Act which changed a lot of little things in a multitude of areas. One significant impact was the merging of databases between the IRS and the Social Security Administration. The result of that merge was an identification of the vast number of illegal immigrants in this country and a better insight into their financial situation.
Prior to the merger, an illegal immigrant would pay for a fake social security card or borrow someone else they knew in order to get employment. If the employer deemed the information to be valid, they put that person on the payroll. Each pay period, the employee has social security withholding taken out of their check and the employer pays the required matching funds. This money was sent to the social security administration who kept a database of money paid into them and by whom.
Taxes were also taken out of those checks and paid by the employer to the IRS.  The result of the merge was that the IRS found out how many people had been paying taxes using social security numbers that didn't exist. From that pool of people they could further deduce who were ... more

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