How to Apply for a Working Tax Credit
The Making Work Pay Tax Credit is relief for individuals and married couples. This tax credit is part of the American Recovery and Reinvestment Act passed in 2009. Some of these tax credits were disbursed immediately after the bill passed. In some cases, though, you'll need to claim this credit on your taxes. To receive this tax credit, you may need to fill out IRS forms.
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Instructions
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Review your bank statements first. If you filed your taxes online and received your tax return in 2008 through a direct deposit, the Making Work Pay Tax Credit may have arrived as another direct deposit.
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Contact the IRS if you cannot find the tax credit in your bank statements. See Resources below for the IRS contact information. Speak with a tax adviser. Make sure you have your Social Security number handy as he will need this to locate your information. Ask if you received a Making Work Pay Tax Credit--either as a direct deposit or as a paper check.
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File your taxes for the year 2009. This tax credit only applies to this year as it was a result of the American Recovery and Reinvestment Act of 2009. Fill out the 1040 and any other forms required for your line of work (e.g. Schedule K for S-Corporations, Schedule C for sole proprietors).
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Obtain a copy of Schedule M. This is the form you'll need to claim your Making Work Pay Tax Credit. The maximum benefit is $800 for married couples and $400 for individuals. See Resources for a blank Schedule M.
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Fill out the Schedule M. You'll need your income documents--specifically your W2 for 2009. Speak with a tax adviser if you're unclear as to the specific numbers and calculations. Double check the form and file if with your other tax documents. Your tax credit will be added to your refund for 2009.
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References
Resources
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