How do you figure out how much advance EIC payments will be?

Question

we are trying to increase our weekly take-home pay. we have 3 childeren we are going to start getting advance EIC payments on my husbands pay check. because with 3 kids they're still taking over 100 dollars out in taxes a week. does anyone know how to figure advance eic payments or can you tell me what his check will be? he makes 680 a week before taxes we usually bring home 584 a week . we live in peoria il if that helps thanks

Answer 1

I think that it is about $33-$34 per week.

$1750 (maximum advance EIC) / 52 weeks = $33.65

Edit:

Wow.  Per the chart in the Pub 15, you may qualify for an extra $2 per week.  According to it, he makes to much to get the maximum of $34 per week.

You probably are going to want to adjust his W4 so less taxes come out.  The Advanced EIC isn't going to do much.

Answer 2

Wayne is forgetting that your total EIC with that income your total EIC for the year wouldn't be anywhere near the maximum AEIC amount.  You might get around $18 weekly - that's total, not per kid.

The other thing you can do though is increase your allowances.  What does he claim now?  If the kids are all under age 17, he should be able to claim 3 for each kid, plus one for each of the two of you, or up to 11, without worrying about having to pay when you file.  

If you get more money now, you'll get that amount less in your refund - it's the same total money, all that changes is when you get it.  You probably know that, but just thought I'd mention it.

Answer 3

See Pages 60 to 67

http://www.irs.gov/pub/irs-pdf/p15.pdf