Cash Advances from the IRS for Families with Children

If you expect to qualify for the earned income credit in 2001, you may be able to start getting part of the credit with your pay in 2001, instead of waiting until you file your 2001 tax return in 2002. This is called the advance earned income credit or AEIC. To get part of the credit with your pay, you must expect to have at least one qualifying child, and expect to meet certain other conditions. To get part of the credit on your paycheck ask your employer for the 2001 Form W-5, Earned Income Credit Advance Payment Certificate. If you qualify, complete Form W-5 and give it to your employer. Your employer will then add the advance earned income credit to your net pay each pay period you are eligible. Contact Internal Revenue Service (IRS); 800-829-1040; {www.irs.gov}.

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