
Publication 962 E Rev June EITC Evergreen Stuffer Form
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People also ask
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What is the most common EITC error?
Your child doesn't qualify Most errors happen because the child claimed doesn't meet the qualification rules: Relationship: The child must be related to you. Residency: The child must live in the same home as you for more than half the tax year. Age: The child must meet the age requirements.
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What is the error rate for EITC claims?
The IRS has estimated an EITC improper payment rate of between 22 and 26 percent of EITC payments and an over-claim rate of between 29 and 39 percent of dollars claimed.
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Who qualifies for the EITC?
You're at least 18 years old or have a qualifying child. Have earned income of at least $1.00 and not more that $30,950. Have a valid Social Security Number or Individual Taxpayer Identification Number (ITIN) for you, your spouse, and any qualifying children. Live in California for more than half the filing year.
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Why am I not getting the earned income credit?
You probably did not have enough income from working to get the refundable additional child tax credit --which is based on how much you earned from working. You say you only worked for a month in 2023. And...if you are filing married filing separately, you are not eligible to get earned income credit.
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What disqualifies you from earned income credit?
Disqualifying income can prevent someone from receiving the earned income credit (EITC). Disqualifying income includes investment income, such as taxable and tax-exempt interest, dividends, pensions, and annuities, net income from rents and royalties, net capital gains, and net passive income.
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Why would EIC be denied?
They have no earned income. They're using Married Filing Separately. Their dependent doesn't meet the qualifying child criteria (if claiming one). They're too young or too old (if not claiming a qualifying child).
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What disqualifies you from Earned Income Credit 2024?
If you received more than $11,600 in investment income or income from rentals, royalties, or stock and other asset sales during 2024, you can't qualify for the EIC. This amount increased from $11,000 in 2023. You have to be 25 or older but under 65 to qualify for the EIC.
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Why does the IRS hold refunds for Earned Income Credit?
If you are getting the earned income tax credit, or the refundable portion of the child tax credit, then yes. Your refund is held until after mid February, to protect you from identity refund theft.
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