Vision Payroll

January 16, 2011

2010 Form W-2 Tips, Part 10, Box 9 Advance EIC Payment

Filed under: News — Tags: , , , , , , — Vision @ 11:37 am

This is one in a continuing series on the 2010 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than January 31, 2011. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet that deadline may file a request for extension of time to furnish the forms. Today we review Box 9, advance EIC payment.

Maximum EIC Advance Payment in 2010 Was $1,830

Box 9 shows the amount of any advance EIC (earned income credit) payment paid to the employee. Employees must meet four criteria and file Form W-5, Earned Income Credit Advance Payment Certificate in order to receive advance EIC payments. For 2010, the maximum advance EIC was $1,830. Employees entitled to additional EIC are eligible to receive it when filing Form 1040, US Individual Income Tax Return.

Box 10, Dependent Care Benefits Is the Next Topic

The next topic in this continuing series will be Box 10, dependent care benefits. Contact Vision Payroll with any questions on the 2010 Form W-2.

2 Comments »

  1. What happens when the EIC amount in box 9 is more than the maximun amount? Would that be an overpayment or an error?

    Comment by Sarah — February 1, 2011 @ 2:54 pm

  2. It is an error and an overpayment. It doesn’t appear that the IRS has addressed this issue. The possibilities are to repay the employer and get a corrected W-2 or claim the full amount received on your Form 1040.

    Comment by Vision — February 1, 2011 @ 3:35 pm

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