For 2011 there are new reporting regulations for those eligible for the earned income credit. Whether you prepare your income tax return yourself or have someone prepare it for you, there will be many more questions to complete to meet the new regulations. These questions will help determine your correct filing status, total income, deductions, and credits. You will also need to complete worksheets proving support for dependents, residency, etc.
The importance of answering all questions honestly is to reduce the risk of an audit, paying additional tax, and paying a penalty or interest.