dftaxservices
Level 1
‎01-13-2022 12:41 AM

Starting to input client's W2, but EIC is not calculating correct credit amount. Is it because form is not e-file ready until the 24th? I confirmed with the EIC table and other tax programs. 

BobKamman
Level 15
‎01-13-2022 04:06 AM

An example, with amounts for earned income and AGI?  Maybe it's still using the 2020 formula?

PATAX
Level 15
‎01-13-2022 04:52 AM

I think it is still a little too early. I would wait a little bit longer to see if there is an update.

garman22
Level 13
Level 13
‎01-13-2022 08:50 AM

I agree with @BobKamman

what are your particulars and dollar amounts?

dftaxservices
Level 1
‎01-13-2022 10:18 AM

Earned income about $39,000 with 1 dependent, HOH. According to EIC table, credit should be about $2,000 and its giving $430

0 Cheers
TaxGuyBill
Level 15
‎01-13-2022 10:28 AM
@dftaxservices wrote:

Earned income about $39,000 with 1 dependent, HOH. According to EIC table, credit should be about $2,000 and its giving $430

 

What is AGI?

garman22
Level 13
Level 13
‎01-13-2022 10:34 AM
@dftaxservices wrote:

Earned income about $39,000 with 1 dependent, HOH. According to EIC table, credit should be about $2,000 and its giving $430

AGI is important, but I'll give you AGI at $39k. Can you show me where EITC should be "about" $2k? Show me the table where the dollar amount should be close to your value. 

I'll agree with closer to the $430 mark. 

You are not looking at 2 dependents, are you?

 

 

EDIT: I ran your numbers and I show in tables $501 and program shows same value.