earned income credit question

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ketanco
Posts: 130
Joined: Wed Jul 24, 2013 7:09 pm

earned income credit question

Post by ketanco » Wed Mar 29, 2017 5:28 am

Hello,
I am still entering number to my tax return using software and it seems that i might have very little earned income credit. For this small amount I dont want any refund delays. Can I just say no to this? What happens if we say no to this?

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desertbandit442
Posts: 159
Joined: Mon Feb 20, 2012 8:41 am

Re: earned income credit question

Post by desertbandit442 » Wed Mar 29, 2017 6:57 am

You can say no, you don't have to claim a credit. Nothing happens--you just might get a letter from the IRS saying you qualify for the EITC. You can disregard that letter if you don't want to claim the credit.

dbltrbl
Posts: 900
Joined: Thu Mar 01, 2007 11:52 am

Re: earned income credit question

Post by dbltrbl » Wed Mar 29, 2017 7:10 am

Why not take the credit? Software does the work. donate the amount to a worthy cause or buy your loved ones a nice dinner.

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dodecahedron
Posts: 4826
Joined: Tue Nov 12, 2013 12:28 pm

Re: earned income credit question

Post by dodecahedron » Wed Mar 29, 2017 8:24 am

Refund delays for EIC were a requirement imposed by Congress to delay processing EIC returns (and other returns with refundable credits) until mid-February. So if you filed in January, yes, you would have experienced a delay relative to most other folks filing at that same time.

But I am not seeing our VITA clients who claim EIC experiencing delays now that we are well past mid-February. As far as I can tell, things got back to normal by late February.

RudyS
Posts: 1611
Joined: Tue Oct 27, 2015 10:11 am

Re: earned income credit question

Post by RudyS » Wed Mar 29, 2017 9:08 am

dodecahedron wrote:Refund delays for EIC were a requirement imposed by Congress to delay processing EIC returns (and other returns with refundable credits) until mid-February. So if you filed in January, yes, you would have experienced a delay relative to most other folks filing at that same time.

But I am not seeing our VITA clients who claim EIC experiencing delays now that we are well past mid-February. As far as I can tell, things got back to normal by late February.
Same for AARP TaxAide so far.

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