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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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reid2me
Level 1
03-14-2022
06:20 PM
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I have a client who is 20 yrs. of age, had a son last year in April, the last time they filed was in 2019, with $4,245 of wages. When they filed in 2020 for 2019, they were single, of course no EIC, due to age and not claimed by parent or anyone else. This year they have their son and only unemployment income of $2,856. Do they qualify to use the 2019 income as a basis for 2021 EIC?
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dkh
Level 15
03-14-2022
11:32 PM
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ARPA provision - EIC for 2021 taxpayer may choose to use 2019 earned income if it is greater then 2021 earned income If single in 2019 but MFJ for 2021 - the total of each (taxpayer+spouse) income for 2019 is used
This information is available in resource material such as 1040 Quickfinder. It is also in the Handbook issued with my CPE seminar.
