What is the Wisconsin advance earned income credit referred to on lines 3 and 5 of the My Tax Account Form WT‑7?
A full-year legal resident of Wisconsin may request that his or her employer add to his or her paycheck a Wisconsin advanced earned income credit (EIC). The amount of the Wisconsin advance payment is a percentage of the federal advance EIC. The Form WT‑7 has been revised and line 3 has been added to report the total Wisconsin advance EIC paid to employees. No changes were made to Form WT‑6. The employer enters on Form WT‑6 the amount of tax withheld less the Wisconsin advance EIC paid for the period. Employers must report the Wisconsin advance EIC payment to an employee on the employee’s Form W‑2. Employers should include in box 14 the code “WEIC” followed by the amount of the advance EIC paid to the employee. For additional information on the advanced EIC, go to www.revenue.wi.gov/faqs/ise/adveic.html.
