Study Guide for EIC Overview
The study guide is provided to guide you through the course material in a step by step format.
Reading assignments are for “Earned Income Tax Credit Overview.”
1) Earned Income Credit Rules
Reading Assignment: Chapter 1 <<>> Review Questions: #1-5
The learning objectives for this lesson are to gain an understanding of:
- Eligibility to Receive EIC
- EIC Rules Applicable to Everyone
- EIC Rules That Apply Only if the Taxpayer Has a Qualifying Child
- EIC Rules That Apply if Taxpayer Does Not Have a Qualifying Child
- Figuring the Amount of the Earned Income Credit
2) Earned Income Credit Errors
Reading Assignment: Chapter 2 <<>> Review Questions: # 1-5
The learning objectives for this lesson are to gain an understanding of:
- Incidence of Earned Income Credit Errors
- Factors Leading to Earned Income Credit Errors
- Estimated Revenue Impact of Earned Income Credit Errors
- Common Earned Income Credit Errors
3) EIC Disallowance
Reading Assignment: Chapter 3 <<>> Review Questions: # 1-5
The learning objectives for this lesson are to gain an understanding of:
- IRS Efforts to Reduce Improper EIC Payments
- Claiming EIC after Disallowance
- Client Consequences of EIC Disallowance
4) EIC Due Diligence
Reading Assignment: Chapter 4 <<>> Review Questions: 1-5
The learning objectives for this lesson are to gain an understanding of:
- Tax Preparer Due Diligence a Statutory Requirement
- Failure to Meet Due Diligence Requirements
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