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, because the EIC expires annually, on December 31st. As one of the many benefits of using StaffScapes, StaffScapes will provide a W-5 to any employee who requests it, and will file it, once it is returned to them. For more information about W-5, or W-5 qualifications, you can call StaffScapes at 303-466-7864 or visit www.irs.gov.