Disallowances For Reckless or Fraudulent Claims
A person or couple will be disallowed EIC for two years if they claim EIC when not eligible and the IRS determines the "error is due to reckless or intentional disregard of the EIC rules." A person or couple will be disallowed for ten years if they make a fraudulent claim. Form 8862 is required after this time period in order to be reinstated. However, this form is not required if EIC was reduced solely because of mathematical or clerical error.
Read more about this topic: Earned Income Tax Credit
Famous quotes containing the words reckless, fraudulent and/or claims:
“Nearly all our powerful men in this age of the world are unbelievers; the best of them in doubt and misery; the worst of them in reckless defiance; the plurality in plodding hesitation, doing, as well as they can, what practical work lies ready to their hands.”
—John Ruskin (1819–1900)
“It is pretty obvious that the debasement of the human mind caused by a constant flow of fraudulent advertising is no trivial thing. There is more than one way to conquer a country.”
—Raymond Chandler (1888–1959)
“The purpose of education is to keep a culture from being drowned in senseless repetitions, each of which claims to offer a new insight.”
—Harold Rosenberg (1906–1978)