The Making Work Pay Tax Credit
In 2009 and 2010, the Making Work Pay provision of the American Recovery and
Reinvestment Act will provide a refundable tax credit of up to $400 for working individuals and up to $800 for married
taxpayers filing joint returns. This tax credit will be calculated at a rate of 6.2 percent of earned income and will phase
out for taxpayers with modified adjusted gross income in excess of $75,000, or $150,000 for married couples filing
jointly. Read
more...