Earned Income Credit

Author: Paul J. Winn

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law for CTEC
2 hours Federal Tax Related for EAs and OTRPs

Earned Income Credit examines the earned income credit rules, the common errors made in claiming the credit, the consequences of its disallowance by the IRS and the requirements imposed on tax return preparers for earned income credit due diligence. The course discusses the rules applicable to everyone, the rules applicable only to individuals with a qualifying child and the rules that apply only when the taxpayer has no qualifying child. The requirements for tax return preparer due diligence are examined and best practices are identified.

Publication Date: July 2016

Designed For
Practitioners that need a better understanding of the Earned Income Tax Credit.

Topics Covered

  • Earned income credit rules
  • Common errors made in claiming the credit
  • Consequences of its disallowance by the IRS
  • Requirements imposed on tax return preparers for earned income credit due diligence
  • rules applicable only to individuals with a qualifying or no qualifying child
  • Requirements for tax return preparer due diligence
  • Best practices are identified

Learning Objectives

  • Identify and apply the earned income credit rules to determine if a taxpayer is eligible for the tax credit
  • Recognize the AGI a client must have to qualify for EIC in 2016
  • Describe various demographic client situations under which a client may meet the requirements of EIC
  • Differentiate earned income by the recipient for purposes of EIC
  • Identify the residency qualifications a taxpayer must meet to be considered a qualifying child for earned income credit purposes
  • Recognize which parent may claim a child under the tiebreaker rules to claim the child as a qualifying child

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $55.00

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