The state you send form 2553 to is listed on page 1 of the document and is based on your current location. Services are provided for free or for a small fee. Several standards must be met for you to claim the EIC: Eligible taxpayers may claim the credit either with or without a qualifying child. Though some were unintentional, other claims were intentional regardless of the rules. how long does it take to process form 8862. The principal differences in the updated form involve the credit for other dependents, which was enacted as part of the Tax Cuts and Jobs Act (TCJA, P.L 115-97, 12/22/2017). The IRS issued more than 9 out of 10 refunds to taxpayers in less than 21 days last year. An SSN is valid for EIC unless it was issued after the due date of your 2022 return (including extensions) or it was issued solely to apply for or receive a federally funded benefit and does not authorize you to work. American Opportunity Tax Credit (AOTC) You may need to: Pay back the claims, plus interest File Form 8862 when you claim the credit again We could also ban you from claiming the EITC for 2 to 10 years or assess the Erroneous Claim for Refund or Credit Penalty File Form 8862 If you efile it with the return it may or may not delay the return if it does it could be weeks but if it is required then do so filing it after the fact will delay things by months. You only have to file Form 8862 once unless your claim for one of these credits is denied a second time. If you meet one of these exceptions, answer "Yes" to question 14 for that child. Deduction: What's the Difference? You must have earned income for the tax year and a valid Social Security number (SSN). An official website of the United States Government. The student has not been convicted of any federal or state felony for possessing or distributing a controlled substance as of the end of the year on line 1. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). If you cant find what you need online, call the telephone number on your notice or letter. Your spouse would have become age 65 in November 2022.
