The National Directory of Certified Public Accountants

Ask A CPA - Business Start-ups

How Do I Calculate The Amount Of The Advanced Earned Income Amount To Include In An Employee'S Paycheck ?

The Education Jobs and Medicaid Assistance Act of 2010 signed into law August 10, 2010 repealed the Advance EITC. After December 31, 2010, workers cannot receive Advance EITC in their paychecks. Advance EITC is also known as AEITC or AEIC. Workers who received Advance EITC or AEITC on their paychecks need to file a tax return to report the amount received.

If you need professional help with "Business Start-ups" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.