EIC- Dependent 20-Student

[zeros]

I admit I am rusty from the time off. Single mom (lives with boyfriend) has daughter that is a student. Mom makes $7300. The software does not calculate a EIC. I thought it should. Any reason why it shouldn't?

[erchess]

Ticked box

Assuming that your belief that the client qualifies for EIC has survived a review of TTB 1040 Edition pg 11-9 and 11-10, then you have probably checked a wrong box or failed to check a box in your software. I think your best help might be from Software Support.

[JohnH]

Do you have birthdates entered correctly?

[zeros]

Working Now -Forgot to fill out the 8867 form

I feel like such an idiot this time of the year.......

[solomon]

I feel like such an idiot this time of the year.......

I maintain a membership in that club year round.

[JON]

Club membership paid for lifetime status

How come I never see you guys at the meetings????

[erchess]

Sense of belonging

If Solomon belongs to the idiot's club we are all members and I should be named supreme leader for life and generalissimo in charge of all foolishness.

But seriously I don't know how to use this story in our marketing but it truly is a good example of why tax software is a great tool but is no substitute for tax knowledge. A professional used software as well as he or she could figure out and it yielded the result that the return did not qualify for EIC. A self preparer might well have either assumed the software had yielded the right answer or figured out how to answer questions differently without regard for truth until EIC was granted. The tax professional however suspected that he or she had failed to answer or answered incorrectly a required question and set about looking for the answer. He or she would not have lied or gone with what was thought to be a client lie but at the same time he or she did not just blindly input data and accept the results of his first try. Rather he or she had tax knowledge indicating that there was a problem and stayed with it until the problem was solved.

[kpangelinan]

If Solomon belongs to the idiot's club we are all members and I should be named supreme leader for life and generalissimo in charge of all foolishness.

But seriously I don't know how to use this story in our marketing but it truly is a good example of why tax software is a great tool but is no substitute for tax knowledge. A professional used software as well as he or she could figure out and it yielded the result that the return did not qualify for EIC. A self preparer might well have either assumed the software had yielded the right answer or figured out how to answer questions differently without regard for truth until EIC was granted. The tax professional however suspected that he or she had failed to answer or answered incorrectly a required question and set about looking for the answer. He or she would not have lied or gone with what was thought to be a client lie but at the same time he or she did not just blindly input data and accept the results of his first try. Rather he or she had tax knowledge indicating that there was a problem and stayed with it until the problem was solved.

This is a great example of tax software being a tool but is not a substitute of not only knowledge, but experience as well.