Making Work Pay Credit
- A new tax credit for U.S. workers to help stimulate the economy
- Federal tax credit up to $400 per taxpayer, or $800 for joint returns
- Provided as an increase in take-home pay for 2009 and 2010
- A phase-out applies for income over $75,000 (or $150,000 joint)
- You may have more money to spend each paycheck
- Many U.S. workers will qualify as "eligible individuals"
- You may see higher wages by April 1, 2009
- The tax credit applies for 2009 and 2010
- You may start seeing the savings in your paycheck by April
- Self-employed individuals will see the savings at tax time
- You must provide your Social Security Number to claim the credit
- Claim the full tax credit on your 2009 and 2010 federal returns
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