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Making Work Pay Credit

For 2009 and 2010, most individuals with earned income can claim a refundable Making Work Pay Credit (MWPC of up to $400 ($800 for joint returns).  The Making Work Pay Credit is the lesser of 6.2% of a workers earnings or $400.  Image by Getty Images via Daylife The credit effectively eliminates the first $400 of Social Security taxes. This credit is subject to phase outs as well.  The amount...

March 9th, 2009 by The Tax Man 
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