What is difference in tex cradet and working tax cradet?

Answer 1

A tax CREDIT is a tax CREDIT but you do HAVE some different rules to qualify for EACH different TAX credit that you want to know about. You do have some different tax credits that you could possibly qualify for when your 1040 income tax return is completely correctly.

The working tax credit that you are asking about is called the MAKING WORK PAY TAX CREDIT and that means you must have some qualified earned INCOME that you have worked for provided your services to earn the income and then you also have other rule that have to met before you can qualify to get the MWPTC amount.

Go to the IRS gov website and use the search box for Making Work Pay Tax Credit. This credit means more take-home pay for many Americans in 2009 and 2010

Use the search box for Making Work Pay Credit: Questions and Answers

General issues

SCHEDULE M INSTRUCTIONS

General Instructions

Who Can Take the Credits

You cannot take the credit if the amount you enter on line 5 is $95,000 ($190,000 if married filing jointly) or more, you are a nonresident alien, or you can be claimed as a dependent on someone else's return. The credit is reduced if either of the following statements is true.

* You (or your spouse, if filing jointly) received a $250 economic recovery payment during 2009. You may have received an economic recovery payment if you received social security benefits, supplemental security income (SSI) benefits, railroad retirement benefits, or veterans disability compensation or pension benefits.

* You take the government retiree credit discussed next.