IRS adds e-feature for earned income credit

The IRS today launched an application to help tax preparers determine whether their clients are eligible for the Earned Income Tax Credit, while minimizing errors. The EITC Assistant “will help tax professionals and taxpayers navigate what can be quite complex qualification standards for the EITC,” IRS commissioner Mark Everson said. The assistant, available in English and Spanish, determines eligibility for the credit, filing status of the taxpayer and whether the taxpayer’s children meet the qualification definition for EITC. Beginning next year, tax professionals and taxpayers can use the tool to calculate the amount of the expected credit.EITC Assistant will be prominently displayed at IRS.gov during the 2005 filing season. Currently, it can be found through the site’s main pages for Tax Professionals, Individuals or Español.