W-5 Form (Earned Income Credit)

Earned Income Credit

Before 2011, eligible employees could reduce or eliminate federal income tax withholding by filing a Form W-5, or an Earned Income Credit (EIC) Advance Payment Certificate.

In 2010, the Education Jobs and Medicare Assistance Act eliminated advanced payments and the use of the W-5 from this process. Eligible employees can, however, claim the credit at the end of each year on their income tax returns.

Learn more about the Earned Income Credit.