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Author: jairod Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121148  
Subject: claiming eic for 1997 and 1998 Date: 11/11/1999 2:59 AM
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My wife and i became parents in october 1997. I did not file taxes on 98 or 99. How can i get my EIC for those years?
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Author: ToniABS One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 20918 of 121148
Subject: Re: claiming eic for 1997 and 1998 Date: 11/11/1999 4:14 AM
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That all depends on a number of variables. First, and foremost, did either one of you have earned income? Are you legally married and, at least one of you over the age of 25? Or are you under that age, students, and living together in mom and dad's home? If married, is your combined income still below the maximum allowed cap that qualifies you for EIC in each year? There are many variables that come into play, and since the new laws and punishments are into effect, as of 1998, regarding fraudulent EIC claims, you want to make sure that you are in fact entitled to this credit before you apply for it.

The question I have is why didn't you file? Oftentimes, people mistakenly believe that since they didn't earn "that much," then there's no need to file. That is untrue even if you don't qualify for EIC since, more than likely, you had withholding taken out of your pay assuming you work for an employer. You should file, and if your taxable income is effectively zeroed out, and you owe no other non-tax debts such as child support or student loans, then you should get back any withholding owed to you.

If you need a reprint of any W2 info for a particular year, then call the Customer Service number at 1-800-829-8815. Ask the rep to provide you with your W2's for whatever years and under both social security numbers - for both you and your wife. Then call or download the specific year's forms at www.irs.gov. You can also call 1-800-829-3646, the forms and publications line to order any booklets and forms you need.

One publication, which changes every year, is Publication 596. This pub deals specifically with EIC, and it provides the work sheets and tables.

In short, you need to file your taxes, and you need to provide the child's SSN on Schedule EIC which you will attach to your returns along with either the actual W2s or the prints provided by the IRS and any other form needed to address your specific circumstance.

One other thing, in the tax year 1998, the new Child Tax Credit was allowed reducing taxable income by $400 per child. This year, tax year 1999, I believe it is $500 per child. If you do have any taxable income left after standard deductions and exemptions, don't forget to deduct this credit as well for your one child (more than two children is another story).

Take care,
Toni

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Author: TaxService Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 20942 of 121148
Subject: Re: claiming eic for 1997 and 1998 Date: 11/11/1999 12:15 PM
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My wife and i became parents in october 1997. I did not file taxes on 98 or 99. How can i get my EIC for those years?

***If you had earned income from employment, in those years, and your income was sufficiently low, you would generally qualify for the earned income credit unless someone else (with a higher income) were also able to claim that credit. For instance, if you all lived with your parents, and your parents had a higher income, you might not qualify. Having said that, you'll never get the EIC unless you make a claim for it. If you do not do so within three years of the due date of the original return, you'll lose any refund you may have had coming to you. In order to make the claim, just file your tax returns for the years in question.

Good Luck!=:)

"Jack"

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Author: jairod Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 21221 of 121148
Subject: Re: claiming eic for 1997 and 1998 Date: 11/16/1999 2:38 PM
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First, thanx for the reply. Secondly, we do qualify.
I did not file for the same reasons you stated, i figured we did not make enough, and also i had no federal tax withheld. Is the customer 800 hundred number you suggest to call the IRS? Thanx again, i'll follow your suggestions.

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