Making Work Pay tax credit
- Making Work Pay tax credit
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The Making Work Pay Tax Credit was a tax credit allowed by the Internal Revenue Service of the United States.[1] It was authorized in the American Recovery and Reinvestment Act of 2009.
The credit was given at a rate of 6.2 percent of earned income up to a maximum of $400 for individuals or $800 for married taxpayers. Typically employers reduced withholding to provide an increase in take-home pay without any effort required from taxpayers. If the taxpayer had multiple jobs or was self-employed, they needed to adjust withholding.
The credit expired at the end of Tax Year 2010; it was only in effect for tax years 2009 and 2010, and will not be available for 2011.
References
External links
Wikimedia Foundation.
2010.
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