Posts tagged as:

Schedule M

Ask the taxgirl: Incomplete Paperwork

30 January 2012

Taxpayer asks: Hi, I just got my taxes done and I don’t see paperwork for my homestead credit or working pay credit in my taxes. I looked at last years and all of it is in that one I called and left a message with the person who did my taxes but I should get [...]

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Ask the taxgirl: I Forgot Schedule M

26 January 2012

Taxpayer asks: I forgot to include the Schedule M with my free e-file. Should I do an amended return or ? Thank you. taxgirl says: Nope. There’s no need to amend because… there is no Schedule M for individual taxpayers for the 2011 tax year. The Schedule M was used to figure the Making Work [...]

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Ask the taxgirl: Making Work Pay Credit & Tax Years

21 February 2011

Taxpayer asks: Hi Tax girl, My nephew did not work in 2009…but did work the full year in 2010. Is he entitled to the making work pay credit? He does meet all of the other requirements. and If I could sneak in another quick question… My daughter did not claim the making work pay schedule [...]

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It’s Baaaack: Making Work Pay Credit

15 February 2011

My inbox is already filled with taxpayers trying to wrap their heads around the Making Work Pay Credit. Yep, it’s back and just as confusing as it was last year. Here are a few tips to help you sort it out: The Making Work Pay Credit did go away under the new tax deal (it [...]

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Struggling with the Making Work Pay Credit?

14 April 2010

I’ve written quite a few posts on the Making Work Pay Credit this year. If you’re looking for something specific, try these: Calculating the Making Work Pay Credit Understanding the Making Work Pay Credit What to Do if You Forgot to File the Schedule M Calculating the Making Work Pay Credit When One Spouse Works [...]

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Ask the taxgirl: I Don’t Qualify for the Making Work Pay Credit

3 April 2010

Taxpayer asks: I can’t claim the making work pay tax credit. Do I need to file schedule M anyway? Taxgirl says: Nope. If you’re sure that you don’t qualify, then no need to complete the Schedule M. Just be really sure – you don’t want to leave money on the table! Like any good lawyer, [...]

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Making Work Pay Credit: The Basics

21 February 2010

I’ve been getting lots and lots of questions about the Making Work Pay Credit. To make it easier for you, here are the basics: The Making Work Pay Credit is only available for taxpayers with earned income during the year. The credit HAS NOT already been calculated as part of your withholding. Your eligibility for [...]

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Ask the taxgirl: I forgot to file Schedule M!

18 February 2010

Taxpayer asks: I was not aware of the above credit. I am single, and just yesterday filed form 1040 EZ my self. I did not file schedule M to claim that credit. Can I file an amended return to claim this credit. Taxgirl says: This is a great question. I actually called up the IRS [...]

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Making Sense of the Making Work Pay Credit

2 February 2010

So now that you’ve calculated the Making Work Pay Credit, what does it all mean? A credit is a dollar for dollar reduction in your tax bill. So if you owed $1000 and the credit was $400, your tax bill is now $600. The tax rates didn’t change. The tax due didn’t change. The credit [...]

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Calculating the Making Work Pay Credit

2 February 2010

I’ve received a bunch of questions about the Making Work Pay Credit. I agree – it is confusing. Let me see if I can make some sense of it for you. To keep things simple, I’m doing this in two posts. This first post will assist you in calculating the credit and completing Schedule M. [...]

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