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The Making Work Pay tax credit was a personal credit provided in tax years 2009 and 2010 to U.S. federal income taxpayers. [1] It was authorized in the American Recovery and Reinvestment Act of 2009. The credit was given at a rate of 6.2 percent of earned income up to a maximum of $400 for individuals or $800 for married taxpayers.
Claim Your 2009 Tax Refund Before It Disappears. Dan Caplinger. Updated July 14, 2016 at 6:49 PM ... One of the biggest items people miss out on is the Earned Income Tax Credit, which can provide ...
Starting with tax year 2009, the Hope credit had been supplanted by the more generous American Opportunity Tax Credit. This credit allows for the first $1,200 in "qualified tuition and related expenses," as well as half of qualifying expenses between $1,200 and $2,400, to be fully creditable against the taxpayer's total tax liability.
Earned Income Tax Credit. EITC was established in 1975 and is designed to incentivize taxpayers to work and alleviate their Social ... Initially named the Hope Credit and renamed in 2009, ...
$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes). $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
A credit is a direct reduction of the amount of tax you owe, so it can be very valuable. Some of them are even refundable, meaning that you can get tax money back even if you didn't pay 2009 Money ...