Earned Income Credit



Product Description

Delivery: Text Based
Instructor: WiseGuides
Credit Hours: 2
Field of Study: Federal Tax
Approval: IRS, CTEC
Course Description:
Earned Income Credit error rate remains high. Paid preparers submit about 66% of Earned Income
Credit (EIC) returns. IRS estimates that between 23% – 28% of the claims, or between $13 – $16 billion, is
paid in error. (Data per IRS website 3/6/2013.)
I.R.C. Section 6695(g) requires paid preparers to take extra steps to avoid EIC due diligence penalties. If
you can't recite and scrutinize the EIC "qualifying child" requirements and the current preparer EIC due
diligence requirements, perhaps your time will be well spent taking this course.
After completing this course you will be able to:
 Determine who may claim the EIC
 Determine which identification numbers can be used to qualify a taxpayer for the EIC instead of
a Social Security number
 Identify the requirements for claiming the EIC if the taxpayer does not have a qualifying child
 Identify the requirements for claiming the EIC if the taxpayer has a qualifying child
 Determine when a child meets the residency test for purposes of the EIC
 Identify who can treat a child as a qualifying child for EIC purpose
 Determine what is earned income for the EIC
 Determine which schedule and IRS worksheet is appropriate for claiming the Earned Income
 Determine who can claim the credit
 Identify how public assistance benefits are treated regarding eligibility for the Earned Income

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