Thread: Tax Reform Bill
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Mom2Two 08:52 AM 11-13-2017
K. When will your blog piece be up, Tom? We got the following msg forwarded from NAEYC this morning about additional documentation required for the EITC. It's a bit baffling, because the IRS already requires tons of documentation.

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What's at stake?

If this idea becomes law, family child care providers who claim the EITC will have to meet the additional burden of providing documents and records to substantiate their income from self-employment. Some family child care providers who are eligible to claim the EITC may have their claims reduced or denied if the records they produce do not satisfy IRS auditors. Even if they end up receiving the credit, their refund may be significantly delayed - both because their EITC claim involves IRS review of additional documentation, and because IRS agents will have to put more effort into processing EITC claims by other self-employed tax filers. This may result in families losing access to an important tax benefit that helps them make ends meet and support their children.

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Sincerely,
Mary Beth and the NAFCC team
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