We’re down to the wire! Tax season is nearly over for the 2011 tax year: just 15 days remain until Tax Day (remember that you have until April 17, 2012, to file your 2011 individual federal income tax return). If you haven’t yet filed, here’s your chance to get caught up on what was new…
M is for Making Work Pay Credit. Doh! This is kind of a trick post. There is no Making Work Pay Credit for 2011. That also means no Schedule M. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act which was signed into law on December 17, 2010, did not renew the Making Work…
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 working…
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 Pay Credit…
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…
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…
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…
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!
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…
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…
