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<blockquote data-quote="brett636" data-source="post: 687705" data-attributes="member: 249">Re: Obamanation here today&nbsp;I find a lot of confusion for people regarding their income taxes in general.&nbsp; <img src="/community/styles/default/xenforo/smilies/wink.png"&nbsp; class="smilie" loading="lazy" alt=";)" title="Wink&nbsp; &nbsp; ;)" data-shortname=";)" />&nbsp; What you&#039;re referring too is the Making Work Pay Credit, and it really was supposed to make up for a reduced withholding of taxes from your paycheck throughout the year.&nbsp; Its also refundable so people who have a $0 tax liability can still benefit from the credit.&nbsp; It helps some people, but has hurt others.&nbsp; Case in point one client I had held two jobs last year, both of which reduced his withholdings by the $400, and either job by itself would have qualified him for the full $400 on his return.&nbsp; His combined income caused his credit to be reduced, and this double whammy made his refund much smaller than he had seen in the past.&nbsp; A fulltime driver at UPS will also see their credit reduced unless they are married, and their spouse&#039;s income doesn&#039;t double their AGI.&nbsp; Most tax programs will automatically add this to the tax return when they file.&nbsp; I would think the only people who would not get it when they qualify are the few people who still do their taxes the old fashioned way with pencil and paper if they weren&#039;t aware of it.</blockquote>

[QUOTE="brett636, post: 687705, member: 249"] [b]Re: Obamanation here today[/b] I find a lot of confusion for people regarding their income taxes in general. ;) What you're referring too is the Making Work Pay Credit, and it really was supposed to make up for a reduced withholding of taxes from your paycheck throughout the year. Its also refundable so people who have a $0 tax liability can still benefit from the credit. It helps some people, but has hurt others. Case in point one client I had held two jobs last year, both of which reduced his withholdings by the $400, and either job by itself would have qualified him for the full $400 on his return. His combined income caused his credit to be reduced, and this double whammy made his refund much smaller than he had seen in the past. A fulltime driver at UPS will also see their credit reduced unless they are married, and their spouse's income doesn't double their AGI. Most tax programs will automatically add this to the tax return when they file. I would think the only people who would not get it when they qualify are the few people who still do their taxes the old fashioned way with pencil and paper if they weren't aware of it. [/QUOTE]

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