Bill > S09066

This bill provides for the advance payment of the earned income credit (EIC) by employers, the commissioner of the Department of Taxation and Finance, and the commissioner of New York City's Department of Finance. It allows qualifying employees to receive four advance payments of the EIC during the taxable year, with the first three payments being 20% of the anticipated credit and the fourth payment adjusting for the actual credit due. The bill also requires the commissioners to notify eligible taxpayers and provide information about the advance payment option to tax preparers, accountants, and organizations that assist individuals with tax preparation.