Are you eligible for the Making Work Pay tax credit and Schedule M?
The highly touted Making Work Pay tax credit is proving to be a headache for many taxpayers this season. Despite a PR campaign by the IRS designed to provide information about the credit, taxpayers are still struggling to understand who is eligible for the credit and how it affects their 2009 federal income tax return and if they need to file a schedule M (and when to file it if they forgot). Following are answers to some of the most popular questions about the Making Work Pay credit:
Who is eligible to claim the credit?
The Making Work Pay credit is intended to provide tax relief for working and middle class families. This means most taxpayers will be eligible for the credit, but there are some exceptions:
