Description:
The Earned Income Credit (EIC) is a refundable tax credit that has a significant impact on United States revenue and, in the 2019 tax year, amounted to almost $63 billion claimed by more than 25 million tax filers.
In a recent year, 153.8 million individual federal tax returns were filed, and 19.6 million - 12.7% of individual taxpayers - claimed the Earned Income Credit. Based on that percentage, it would not be unexpected that any tax return preparer will prepare the tax returns for many EIC claimants.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Author: Paul Winn

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Publication Date: 02/22/2022

Technical Details: Taxes: Technical

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Objectives:
Chapter 1 - Earned Income Credit Rules
1. Recognize the EIC eligibility rules that apply to all taxpayers;
2. Identify the EIC eligibility rules applicable to taxpayers who have a qualifying child;
3. List the EIC eligibility rules that apply to taxpayers who do not have a qualifying child; and
4. Recognize how the EIC for which an eligible taxpayer qualifies is determined.

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NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: Enrolled Agents Program Number 263UK-T-00285-22-S

Profession Identifiers : CPA, EA