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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, or in a partnership).
The highly touted Making Work Pay tax credit is proving to be a headache for many taxpayers this season. Despite a PR campaign by the IRS designed to provide information about the credit ...
With all the press surrounding the new payroll tax holiday for 2011, it's easy to forget about the Making Work Pay Credit. The credit, which was the cornerstone of President Obama's economic ...
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 ...
Tax credit equals $0.34 for each dollar of earned income for income up to $10,540. For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income between $19,330 and $41,765, the tax credit decreases by $0.1598 for each dollar earned over $19,330. For income over $41,765, the tax credit is zero.
John Work (c. 1792 – 22 December 1861) was a Chief Factor of the Hudson's Bay Company and head of one of the original founding families in Victoria, British Columbia.Work joined the Hudson's Bay Company in 1814 and served in many capacities until his death in 1861, ultimately becoming a member of the company's Board of Management for its Western Department.
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