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Headline Making Work Pay Tax Credit
Posted on: June 29, 2009




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Making Work Pay tax credit

Generally, for people who receive a paycheck, the credit will typically be handled by their employers through automated withholding changes to the tax table. A Form W-4 ( http://www.irs.gov/pub/irs-pdf/fw4.pdf ), Employee Withholding Allowance Certificate, will not need to be submitted for the automatic withholding change. An employee with multiple jobs or married couples whose combined income place them in a higher tax bracket may elect to submit a revised W-4 to ensure enough withholding is held to cover the tax for his/her combined income. IRS Publication 919 ( http://www.irs.gov/pub/irs-pdf/p919.pdf ), How Do I Adjust My Tax Withholding?, provides additional guidance for tax withholding. Publication 919 provides a step-by-step worksheet.



 



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