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New Tax Credit Surprises Some

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(Sacramento, CA)
Monday, July 12, 2010
If you prepared your own taxes and didn’t file electronically, Jesse Weller with the IRS says you may have missed something kind of important.

“Many people in that situation did not claim the “Making Work Pay” credit.

The Making Work Pay or Schedule M credit is for people who worked in 2009. It’s worth $400 for individuals and $800 for married couples. Weller says it’s a common mistake if you did your own taxes and looked at the previous year’s tax return as a guide.

“When you look at last year you won’t find this credit because it’s brand new for 2009.”

And Weller says don’t fret if you didn’t claim the credit…the check’s on the way.

“Because the IRS will calculate the credit for them but it will delay the filing and the processing of the refund.”
The Making Work Pay credit will also be available for 2010. So Weller says don’t forget to claim it on next year’s return.
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