Covering excess Making Work Pay credit

November 21, 2009

One more quick hit on the topic of excess Making Work Pay credit payments.

I wrote a piece for Bankrate.com on some steps you can take now if you fear you might be one of the folks who will have to pay back the credit next filing season.

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Tax Season 2026 Continues!

We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • You will have to report it on the new Schedule M. Any additional credit is available only to individuals who had wage income. If you received both wages and Social Security, you might lose some or all of your $250 payment.

  • My wife and I both received the 250.00 each payment in 2009 from SSA. Will we have to report that amount on our tax return? Also, will we receive additional credit assuming that we have low joint income?

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