Comments on: Ask the taxgirl: Are Economic Recovery Payments Taxable?

By: Kelly

Kelly — Sun, 13 Feb 2011 02:31:37 +0000

Kathy, you’re not paying the credit back. The credit was figured into withholding during the year. See this prior post: http://www.taxgirl.com/making-sense-of-the-making-work-pay-credit/

By: Kathy Jernigan

Kathy Jernigan — Sun, 13 Feb 2011 01:52:06 +0000

My daughter is doing her taxes, and the question came up, did she and her husband receive Making work Pay credits on their 2009 return? Yes, they got $400 each. When she entered the $800, her refund for 2010 dropped by $500. What’s up with that? Do they have to pay this stinkin credit back? She did not work in 2010, after having had a baby Jan 15 2010. I haven’t done my taxes yet, and wonder if we’ll have to pay that money back, too. I thought a “credit” was a gift.

By: Did You Receive Your Economic Recovery Payment? | taxgirl

Did You Receive Your Economic Recovery Payment? | taxgirl — Fri, 19 Mar 2010 17:22:13 +0000

[...] Recovery Payment, you must report it on your Schedule M when claiming the Making Work Pay Credit. It is not taxable: you just can’t receive both [...]

By: Ask the taxgirl: Making Work Pay Credit (once more with feeling) | taxgirl

Ask the taxgirl: Making Work Pay Credit (once more with feeling) | taxgirl — Tue, 16 Mar 2010 02:10:41 +0000

[...] worked. The credit is based on filing status. It may be reduced if one or more of you received the Economic Recovery Payment during the year. See the instructions on Schedule M for more information (will download as a [...]

By: Mary Kay Foss

Mary Kay Foss — Thu, 11 Mar 2010 03:50:14 +0000

My tax software wants to give the Making Work Pay credit to everyone getting social security – the $250 has to be entered so someone doesn’t get the credit twice. I’m not sure how Turbotax would handle this.