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Deductions & credits
According to the Congressional Research Service, "The amount of the credit a taxpayer receives is based on the prior year's earned income and family composition. In other words, the 2023 EITC is based on 2023 earned income, but will not be paid until tax returns are filed in 2024." If for 2023, EITC is based on earned income, how come EITC for 2019 isn't based on earned income? I literally went to another tax preparation company and was informed I was underpaid my EITC. Today, even the IRS agreed and informed me to file an amendment for 2019 and they will issue an additional refund for the difference.
March 29, 2024
9:04 AM