Is it true that immigrants for example from iraq have 7 years that they dont pay income tax..

Question

and i dont know if this is personal or business, or both.. but i do know that ever 7 years they transfer the ownership of their companies to a new family member.. who claims the new 7 year deduction.. and then they transfer it again.. so that is how those convience stores make so much money... no taxes.??? is that information correct???

but.. you and i pay taxes on everything.......

Answer 1

No. That info is totally false. There is no such thing as a 7 year tax exemption in the US. What they may be doing is running up the balance due to the limit that the IRS acts on.  

Answer 2

Not immigrants, they are called refugees. Only from certain countries they do get some tax benefits.

Answer 3

Ahh the American dream, good for everyone but Americans.   I don't know the details of just what tax breaks they get but there are some business related ones.  I have witnessed it for years but it's not limited to Iraqi's, there are a family of Palestinians who own a deli next to my business have changed ownership every 7 years for 31 years.