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The Making Work Pay tax credit was a personal credit provided in tax years 2009 and 2010 to U.S. federal income taxpayers. [1] It was authorized in the American Recovery and Reinvestment Act of 2009 . The credit was given at a rate of 6.2 percent of earned income up to a maximum of $400 for individuals or $800 for married taxpayers.
For 2009 and 2010 there was an additional form, Schedule M, due to the "Making Work Pay" provision of the American Recovery and Reinvestment Act of 2009 ("the stimulus"). Starting in 2018, 1040 was "simplified" by separating out 6 new schedules numbers Schedule 1 through Schedule 6 to make parts of the main form optional.
Schedule M (2009 and 2010) was used to claim the Making Work Pay tax credit (6.2% earned income credit, up to $400). Schedule R is used to calculate the Credit for the Elderly or the Disabled. Schedule SE is used to calculate the self-employment tax owed on income from self-employment (such as on a Schedule C or Schedule F,
Unlike the new payroll tax holiday, the number of taxpayers eligible for the Making Work Pay Credit is limited. The credit was intended to provide tax relief for working and middle class families ...
The Making Work Pay credit is intended to provide tax relief for working and middle class families. This means most taxpayers will be eligible for the credit, but there are some exceptions:
The centerpiece of the legislation was the Making Work Pay Credit, which was intended to provide tax relief for working and middle class Making Work Pay Credit not likely to be extended Skip to ...
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