Earned Income Credit

Publisher
WiseGuides, Inc.
2796 Greenspire Ln
Akron, Oh 44333
Copyright © 2010

Field of Study: Taxes
Level: Basic
Recommended CPE Credit 2 hours
Prerequisites: None
Advanced Preparation: None
Type of Delivery: Self-Study
Expiration: Course expires 1 year after purchase
Course Update: January 2010
Accreditation: NASBA, IRS, CTEC, OTPB
Guarantee/Complaint Resolution

Course Outline


Lesson 1 - IMPORTANT CHANGES/REMINDERS
Learning Objectives 1
Important Changes/Reminders
Military Personnel
Nonresident Alien
Social Security Numbers
Due Diligence


Lesson 2 - ELIGIBILITY REQUIREMENTS
Learning Objectives 2
Taxpayers Without a Qualifying Child
Taxpayers With One or More Qualifying Children
Tie-breaker rules


Lesson 3 - QUALIFYING CHILD
Learning Objectives 3
Who Is a Qualifying Child?
Relationship Test
Age Test
Residency Test
Joint Return Test
More Than One Person
Special Rule for Divorced Parents


Lesson 4 - EARNED INCOME
Learning Objectives 4
What Is Earned Income for the EIC
Nontaxable Earned Income
Community Property Laws
Self-Employment Income
Ministers
What Is Not Earned Income for the EIC


Lesson 5 - FIGURING THE CREDIT
Learning Objectives 5
FIGURING THE CREDIT


Lesson 6 - CLAIMING THE CREDIT
Learning Objectives 6
CLAIMING THE CREDIT


Lesson 7 - ADVANCE EIC PAYMENTS
Learning Objectives 7
ADVANCE EIC PAYMENTS


Lesson 8 - WELFARE BENEFITS AND THE EIC
Learning Objectives 8
WELFARE BENEFITS AND THE EIC

Course Objectives

Lesson - 1
After completing Lesson 1, you will be able to:
  • Determine which identification numbers can be used to qualify a taxpayer for the EIC instead of a Social Security number
  • Identify the new provisions for the year

    • Pay particular attention to paragraphs marked by the Wiseguy.

    He'll guide you to key issues.



Lesson - 2
After completing Lesson 2, you will be able to:
  • Identify the requirements for claiming the EIC if the taxpayer does not have a qualifying child
  • Identify the requirements for claiming the EIC if the taxpayer has a qualifying child
Lesson - 3
After completing Lesson 3, you will be able to:
  • Determine who is a qualifying child for purposes of the EIC
  • Identify the relationship, residency, age, and joint return tests
Lesson - 4
After completing Lesson 4, you will be able to:
  • Determine what is earned income for the EIC
Lesson - 5
After completing Lesson 5, you will be able to:
  • Determine which form and schedule is appropriate for claiming the earned income credit
Lesson - 6
After completing Lesson 6, you will be able to:
  • Determine who can claim the credit and what form to file
Lesson - 7
After completing Lesson 7, you will be able to:
  • Figure the tax consequences when receiving advance earned income credit payments
Lesson - 8
After completing Lesson 8, you will able to:
  • Identify which welfare benefits will not be considered for taxpayer's receiving earned income credit