{"id":76,"date":"2009-04-11T09:58:46","date_gmt":"2009-04-11T14:58:46","guid":{"rendered":"http:\/\/www.fcallc.biz\/blog\/?p=76"},"modified":"2024-11-23T08:32:22","modified_gmt":"2024-11-23T13:32:22","slug":"what-is-making-work-pay","status":"publish","type":"post","link":"https:\/\/www.fcallc.biz\/blog\/?p=76","title":{"rendered":"What is Making Work Pay?"},"content":{"rendered":"<p class=\"MsoNormal\" style=\"margin: 0in 0in 10pt; text-align: justify;\"><span style=\"font-size: small; font-family: Calibri;\">Making Work Pay is a new tax credit as part of the American Recovery and Reinvestment Act of 2009. <span style=\"mso-spacerun: yes;\">\u00a0<\/span>It will give taxpayers a refundable tax credit of up to $400 for single taxpayers and $800 for married taxpayers filing joint returns.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span>The credit is available in 2009 and 2010.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span><span style=\"mso-spacerun: yes;\">\u00a0<\/span>Employers will make the necessary adjustments through payroll withholding. <span style=\"mso-spacerun: yes;\">\u00a0\u00a0<\/span>Employees will notice a bit more money in their take home pay. <span style=\"mso-spacerun: yes;\">\u00a0<\/span>The changes should begin this spring.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span><span style=\"mso-spacerun: yes;\">\u00a0<\/span>The amount of the credit will be reported on the 2009 tax returns filed in 2010.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 10pt; text-align: justify;\"><span style=\"font-size: small;\"><span style=\"font-family: Calibri;\">The self-employed should not feel left out of the loop. <span style=\"mso-spacerun: yes;\">\u00a0<\/span>Making Work Pay also impacts self employed individuals.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span>If you are self-employed, you too can take the credit on your 2009 tax return.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span>A good practice for the self employed is to evaluate your estimated tax payments to see if adjustments should be made.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span><\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 10pt; text-align: justify;\"><span style=\"font-size: small; font-family: Calibri;\">For more information, visit the IRS website at <\/span><a href=\"http:\/\/www.irs.gov\/\"><span style=\"font-size: small; font-family: Calibri;\">www.irs.gov<\/span><\/a><span style=\"font-size: small; font-family: Calibri;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Making Work Pay is a new tax credit as part of the American Recovery and Reinvestment Act of 2009. \u00a0It will give taxpayers a refundable tax credit of up to $400 for single taxpayers and $800 for married taxpayers filing &hellip; <a href=\"https:\/\/www.fcallc.biz\/blog\/?p=76\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,41,8],"tags":[6,10],"class_list":["post-76","post","type-post","status-publish","format-standard","hentry","category-employment","category-personal-finance","category-taxes","tag-personal-finance","tag-tax-credit"],"_links":{"self":[{"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=\/wp\/v2\/posts\/76","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76"}],"version-history":[{"count":3,"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=\/wp\/v2\/posts\/76\/revisions"}],"predecessor-version":[{"id":99,"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=\/wp\/v2\/posts\/76\/revisions\/99"}],"wp:attachment":[{"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fcallc.biz\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}