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Tax Topic 10 - Earned Income Credit

In this section we will review tax rules to follow in claiming the earned income credit (EIC). The earned income credit (EIC) is a tax credit for certain people who work and have earned income. This usually means more money in your pocket and a reduction in the amount of of tax you owe. 

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Student Instructions:

Print this page, work on the questions and then submit test by mailing the answer sheet or by completing quiz online.

Instructions to submit quiz online successfully: Step-by-Step check list

Answer Sheet            Quiz Online

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Please use IRS Publication 596, and Form 1040 Instructions (Form 1040 instructions only up to page 98) to complete this tax topic.

Please note: Form 1040 Instructions (Form 1040 instructions only up to page 98) will be used for the rest of the topics in the initial tax preparer certification course. You will be responsible to answer questions from the Form 1040 instructions booklet (up to page 98) on every topic so read it carefully.

 

1. For 2011 Earned Income Credit purposes, to be a qualifying child,                

A. A child must be younger than you unless the child is permanently and totally disabled.
B. It does not matter if a child files a joint return for any reason.
C. Only the parents are allowed to claim the child.
 D. Any of the above. 

2. You don't want to wait to receive the EIC, you expect to be eligible for the EIC for tax year 2010, so to receive the EIC in advance in tax year 2011, you    

A. Call the IRS and tell them you believe you qualify
B. File your return ahead of time
C. You don't qualify so don't try
D. Give Form W-5 to your employer to get part of EIC credit during the year in advanced payments.

 
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Revised: 11/26/17