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41) Which of the following statements is false regarding the earned income credit (EIC) A) Maximum amount of the credit depends on the earned income and number of children. B) The credit is refundable. C) If certain requirements are met, a taxpayer may receive advance payments of E D) A taxpayer without children cannot claim the credit. IC.
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Answer #1

False statement is : D) A taxpayer without children cannot claim the credit.

Explanation:

As per the provisions specified by the Internal Revenue Code, a taxpayer without children can claim the credit if he/she meet certain conditions. These conditions are specified as below:

1. It all other conditions of claiming EIC is met by the taxpayer.

2. Taxpayer or his/her spouse is not claimed as qualify or dependent child in any other taxpayer's return.

3. Taxpayer and his spouse is between the age of 25 and 65 by the end of  the tax period.

Hence, a taxpayer without children can claim EIC.

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