Get the free Form 8862

This form is used to claim the Earned Income Credit (EIC) after it has been disallowed or reduced in a previous tax year. It requires the taxpayer to provide information on living conditions and qualifying

How to fill out form 8862

How to fill out Form 8862

1. Obtain a copy of Form 8862 from the IRS website or your tax preparation software.
2. Fill out your personal identification information in Part I, including your name and Social Security number.
3. In Part II, answer the questions regarding your eligibility for the Earned Income Credit.
4. Complete Part III by providing the correct year(s) for which you are claiming the credit.
5. Sign and date the form at the bottom.
6. Attach Form 8862 to your tax return when you file.

Who needs Form 8862?

1. Individuals who were denied the Earned Income Credit (EIC) in a previous year due to filing requirements.
2. Taxpayers who want to claim the EIC again after having been denied must submit Form 8862 to prove eligibility.

People Also Ask about

What is the 8862 form for TurboTax?

Form 8862 is used to reclaim certain tax credits (like the Earned Income Credit) that were previously denied. If your credit was disallowed for reasons other than a math or clerical error, and you now qualify, you'll need to file this form to claim the credit again.

Will I get money if I file the 8962 form premium tax credit?

Use IRS Form 8962 to find out if you used the right amount of premium tax credit during the year. Use the form to compare the advance amount you use to the amount you qualify for based on your final income. If you used too much, you'll repay it via taxes. If you used too little, claim the difference as a credit.

Can I file form 8862 online?

You can include IRS Form 8862 when filing your tax return electronically. If the IRS sent you a notice requesting that you complete the form, mail it to the address provided in the letter. Please note that a signature is not required on the completed form.

Why do I have to pay back my health insurance tax credit?

When you file your taxes, if your income is less than what you told us on your application, you may receive a credit or refund. If your income is more than what you told us on your application, you may have to repay some or all of the advanced premium tax credits that you got.

What is form 8962 used for?

You must file a Form 8962 with your federal income tax return if you received an advanced premium tax credit (APTC) through the Marketplace during the previous year in order to reconcile your estimated and actual income for the year.

Why is the IRS asking for form 8962?

Premium tax credit (PTC). The credit provides financial assistance to pay the premiums for the qualified health plan offered through a Marketplace by reducing the amount of tax you owe, giving you a refund, or increasing your refund amount. You must file Form 8962 to compute and take the PTC on your tax return.

What is the difference between 1095-A and 8962?

Form 8962 helps determine if there's any difference between the tax credit amount used and the actual amount you qualify for. BeWell also sends Form 1095-A to the Internal Revenue Service (IRS) to report your health insurance information and tax credits for the tax year.

What is an 8862 tax form used for?

Taxpayers complete Form 8862 and attach it to their tax return if: Their earned income credit (EIC), child tax credit (CTC)/additional child tax credit (ACTC), credit for other dependents (ODC) or American opportunity credit (AOTC) was reduced or disallowed for any reason other than a math or clerical error.

For pdfFiller’s FAQs

What is Form 8862?

Form 8862 is a tax form used by individuals to claim the Earned Income Tax Credit (EITC) after it was disallowed or reduced on a previous tax return.

Who is required to file Form 8862?

Individuals who had their Earned Income Tax Credit disallowed or reduced in previous years must file Form 8862 to reclaim the credit in the current tax year.

How to fill out Form 8862?

To fill out Form 8862, taxpayers need to provide personal information, details about their qualifying children, and answer specific questions regarding their eligibility for the EITC, based on past years' circumstances.

What is the purpose of Form 8862?

The purpose of Form 8862 is to recertify eligibility for the Earned Income Tax Credit after a previous disqualification or reduction in order to ensure taxpayers qualify for the credit in the current year.

What information must be reported on Form 8862?

Form 8862 requires reporting personal identification information, qualifying children details, the tax year when the EITC was denied, and answers to questions about prior disallowed claims and compliance with tax laws.