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Tax Time (Q&A?)

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Necronic

Necronic

That time of year again.

I'm messing with my 1040 and making sure to squeeze every penny I can out of it. This is something EVERYONE should do. Its surprising how 'hidden in plain sight' tax savings can end up being.

Here's one that is bugging me. I think I have it right, but I want to make sure because it seems too damned obvious/poorly executed ( I know, its the IRS) to be right:

The Making Work Pay credit.

Sometime over the last 2 years everybodies paycheck went up a bit due to this. HOWEVER, I *think* you have to actually claim the credit on your 1040. The paycheck went up because your witholding went down. To be honest I am pretty sure I missed that one in 2009, and I am going to refile to get it it (400$ for single).


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