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Q: Earned Income Tax Credit - Advance Payment Certificate W-5 ( No Answer,   0 Comments )
Question  
Subject: Earned Income Tax Credit - Advance Payment Certificate W-5
Category: Business and Money > Accounting
Asked by: globalad-ga
List Price: $100.00
Posted: 12 Oct 2004 03:28 PDT
Expires: 11 Nov 2004 02:28 PST
Question ID: 413579
How much money is available for American families to collect in their
paychecks if everyone that qualified filed a W-5 form to collect it?

I am looking for total dollars that goes uncollected because people do
not know about the Advance Payment Certificate for the EITC or they do
not understand how to fill out the form. This figure should inclued
everyone that qualifies, whether or not they claim the EITC when they
file their taxes.

The source of the information should be the IRS or some federal
government source such as a Senator or Congressman or other agency.

Request for Question Clarification by pafalafa-ga on 12 Oct 2004 18:16 PDT
Haven't found anything yet on the number of non-filers for the AEIC,
but I did find this Treasury Department audit regarding overtaxing of
those who did file for the AEIC:



http://www.treas.gov/tigta/2003reports/200340126fr.html

Taxpayers Were Assessed Additional Tax for Advance Earned Income
Credit Payments Not Received

 

June 2003

--For 35 (13 percent) accounts ? taxpayers unnecessarily paid all or a
portion of the erroneous assessments, made arrangements to pay, or
were wrongly placed in the collection process by the IRS.

--For 153 (56 percent) accounts ? corrections were made as a result of
actions initiated by 106 taxpayers after the IRS notified them of the
additional tax assessment, or by the IRS prior to assessing 47
taxpayers.

--For 86 (31 percent) accounts ? taxpayers reported another type of
tax on the AEIC payment line; however, the error did not change the
amount of the tax assessed.


==========


Is that of any interest to you at all, or are you strictly focusing on
the numbers of eligible filers who failed to file?

Let me know...thanks!

pafalafa-ga

Clarification of Question by globalad-ga on 13 Oct 2004 03:28 PDT
I am strictly focusing on the numbers of eligible filers who failed to
file for this question. See my other related questions.
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