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:
“The Enormous Room seems to me to be the book that has nearest approached the mood of reckless adventure in which men will reach the white heat of imagination needed to fuse the soggy disjointed complexity of the industrial life about us into seething fluid of creation. There can be no more playing safe.”
—John Dos Passos (1896–1970)
“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)
“A clumsy fool claims his knife is blunt.”
—Chinese proverb.