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.
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An example, with amounts for earned income and AGI? Maybe it's still using the 2020 formula?
I think it is still a little too early. I would wait a little bit longer to see if there is an update.
I agree with @BobKamman
what are your particulars and dollar amounts?
Earned income about $39,000 with 1 dependent, HOH. According to EIC table, credit should be about $2,000 and its giving $430
@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?
@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.
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