W-5 Form

Learn about W-5 Form and more with Workstream and improve your hiring vocabulary. Workstream helps companies hire better, faster - everyday.
Schedule a Demo Try Workstream for Free

What is a W-5 Form? 

Form W-5 tax form is a form from the Internal Revenue Service (IRS) that is obsolete and is no longer used. It was formerly entitled “Earned Income Credit Advance Payment Certificate” and was used by taxpayers to claim earned income credit (EIC) and would like to get a portion of it in advance through their pay. 

The EIC is a tax credit for certain eligible workers. It was created to help working individuals whose earned income is below a certain level, considered low income. EIC eligibility depends on several factors including income and the size of the family.

Form W-5 was last used in 2010 when the Advance Earned Income Credit was repealed by President Barack Obama. This was the last year that the Earned Income Credit was allowed to be received in advance. 

Nowadays, working individuals from low-income families still receive Earned Income Credit. However, EIC tax credit will be received by eligible individuals only after filing taxes.

Try out Workstream to hire employees for
your business

A revolutionary hiring process for Hourly positions

A revolutionary hiring process for Hourly positions Hiring hourly staff in San Francisco can be a tough job. Workstream can help accelerate the process by letting you post on job boards like Indeed within seconds.


1-Click Job Posting

No more tedious copy and pasting. We integrate with all the top job boards. All applicants funnel into one intuitive dashboard.

Text-to-Apply Posters

Print out your unique QR code and text message number. Applicants scan/text to see all open positions and apply right away.

Automated & 2-Way SMS

Engage with applicants via text. Include links to screening questions, forms, and more. Use 2-way text to answer questions.

Endless Integrations

Connect Workstream to your calendar so applicants can schedule interviews. Streamline onboarding with background check & HR integrations.

Candidate Tracking & Scoring

View all your applicants and employees in one place. Make notes on their progress. Access their docs anytime from anywhere.

Customizable Templates

We provide templates for everything from job postings to offer letters. Send links to docs and tax forms via text message so new hires sign digital copies.

What other owners
think about hiring through Workstream

"I love the texting part of the website - I think that it is the most relevant way to get a hold of millennial applicants! The texting reminder to them about their interview is great! "


Matilda Jane Clothing

"Simplified and sped up applicant contact."


Mann Lake Bee & Ag Supply


Currently hiring on Workstream for:

D&I Production Worker

Wood Plant Production Worker (3)

Industrial Maintenance Technician

"Ease of moving through applicants. Time management with easy scheduling. Simple process from start to finish."


Jamba


Currently hiring on Workstream for:

Assistant Manager

Shift Manager

General Manager