February 1, 2010 – 5:41 pm
The Government Retiree Tax Credit
If you are a government retiree and received a pension during 2009, you could be eligible to the Government Retiree Tax Credit. An extra $250 in tax credits is available to federal, state and local government retirees. This credit was created with the ARRA bill passed early in the current presidential administration’s tenure.
If you have a pension or annuity outside of the social security system, this credit is available to you. This credit and the Making Work Pay credit cannot both be claimed. Therefore your Making Work Pay credit is reduced if you worked … Read the rest
By Steve
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Posted in tax credit, tax filing, tax forms, tax tips
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Also tagged Accounting, arra, Business, Credit, Government, government retirees, making work pay, pension, social security system, Tax, tax credit, Taxation, The Government Retiree Tax Credit, turbotax, United States
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January 22, 2010 – 1:37 pm
The Making Work Pay Tax Credit
Created by the ARRA federal bill with an aim at leading to an economic recovery in the US, the Making Work Pat tax credit is something you should be familiar with when completing your tax return for 2009, according to the IRS. The first thing you will notice is a $400 refundable tax credit for single tax filers and an $800 tax credit for married couples. If your employer has taken the credit out of your withholding already, you will not be eligible for an additional credit.
Use Schedule M if you feel … Read the rest
By Steve
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Posted in tax credit, tax tips
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Also tagged 1040ez, additional credit, Credit, making work pay, making work pay tax credit, refundable tax credit, Tax, tax credit, tax filers, US
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