Small Business Services

How do I calculate the amount of the advanced earned income amount to include in an employee's paycheck?

Answer:

The Education Jobs and Medicaid Assistance Act of 2010 signed into law August 10, 2010 repealed the Advance EITC. After December 31, 2010, workers can not 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.
CPAdirectory
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Small Business Services Questions

View More Questions