How to File for the advanced earned income tax credit

Qualifying for the 2009 advanced earned income credit

Difficulty: Easy

Instructions

Things You'll Need:

• W-2 Form
• A job
• expected tax refund

1. Go to your local library, post office and pick up form W5 or go to the Internal revenue service(IRS) website, locate and print out the 2009 Form W-5
   To qualify you have to have a valid social security card, have at least one qualifying child, your 2009 earned income and adjusted gross income (AGI) will both be less than $35,463 and you must qualify for the EIC for 2009.

2. Fill out the quick form with the correct information and give it to your employer. If you recieve the advanced payments, you have to fill out form 1040 or 1040a 2009 income tax return.
   
   File separate W-5 forms if married and your spouse is also employed. To qualify for 2010 advanced earned income credit, you must submit the form before December 31, 2009 and every year you have to submit a new form to receive it for the next year.

3. when you file your taxes you must deduct the amount of payments you received(usually around $1,700 maximum) from your tax refund.

Tips & Warnings

• You have to be getting back a tax refund for that year in order to recieve advanced earned income payments added to each one of your paychecks during the year.