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)
“A fraudulent intent, however carefully concealed at the outset, will generally, in the end, betray itself.”
—Titus Livius (Livy)
“The techniques of opening conversation are universal. I knew long ago and rediscovered that the best way to attract attention, help, and conversation is to be lost. A man who seeing his mother starving to death on a path kicks her in the stomach to clear the way, will cheerfully devote several hours of his time giving wrong directions to a total stranger who claims to be lost.”
—John Steinbeck (1902–1968)