Updating W-5’s

W-5 update annually W-5 is a form also known as EIC (Earned Income Credit) that allows low-income individuals and families to receive a refundable federal tax income during the year.  There are certain requirements an individual has to meet when filing for EIC.  Employees who do qualify should turn in a new EIC (W-5) and a new W-4 by January 1st  to their employers, …