Sunday, April 4, 2010

Making work pay

For 2009 and 2010 tax returns people need to see if they are available for the making work pay tax credit. The making work pay tax credit is intended to provide tax relief for working and middle class families, meaning most tax payers will be eligible for the credit, however there are exceptions. First and most importantly you cannot receive this tax credit if you are claimed as a dependent on another taxpayer's return. Why, might you ask, is this the most important exclusion? Well, that's because it means I don't get the tax return. Ruined my day. I have been excited for weeks that I was going to get a couple hundred dollars for a year's worth of hard work, but no instead my parents get to benefit off of me. Life is just one big disappointment. Well, there are other exclusions to the eligibility of the tax credit like you have to work during the year, you have to be a resident, you can't be a pensioner, retired person, or disabled unless you also received earned income during the year, etc. Once again this sucks.

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