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Get Extra Money In Your Paycheck
By Rachelle Williams of Low Income Resource Online Content
If you file taxes in the United States and you normally receive the Earned Income Credit, you are allowed to have some of that money included in your weekly paycheck instead of waiting for tax season (in your tax refund). There are a lot of people who qualify for the option, but they are not aware that they are eligible. What you would do in order to get the extra money in your weekly or biweekly paycheck is fill out the Advance Earned Income Form from the United States Internal Revenue Service (IRS). As most of us already know, IRS tax forms all have corresponding form numbers; the correct form number for the Advance Earned Income is form W-5, or W5. In order to get the form W-5, you will need to go to your employer and inquire therein. It comes as no surprise to me that most immediate supervisors, managers, etc. will have no idea about the form or how it works; this is why it is best to go directly to your human resources (HR) office and ask them about signing up. If you are really industrious you can print the form from the IRS website and take it to your HR office already completed. The form W5 is really simple to fill out, it takes less than five minutes, and anyone who is entitled to the Earned Income Credit is allowed to receive Advance Earned Income. This option puts more money in your pocket throughout the year. *It is important to note that a new form W5 must be completed every year - make certain that the W5 form you fill out matches the current filing year. |
Getting Advance Earned Income Credits
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 |  | SOK liked this intel. Jun 19, 2011 |
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