Making Work Pay Credit Kicks In

Get a few more dollars in your paycheck

This year, you might get a whole bunch of little stimulus checks. But they won't look like this.

As of April 1 the “Making Work Pay” tax credit is in effect for working Americans. You probably read or heard about this back when the economic stimulus package was the No. 1 topic among news media. Well, now it’s here, and you might start noticing a difference in your take-home pay.

How much more?

How much extra cash you will see depends on your marital status, salary and how many exemptions you take. The credit works by withholding slightly less from your paycheck now, unlike most tax credits, which appear in your tax refund. Single taxpayers will probably get about $10 to $15 per week.

Who will not get the credit?

Of course, this tax credit will only go out to those who need it, so people who make higher salaries will still have the same amount withheld from their checks. The stimulus measure is not meant for people who already have enough money. That would be like taking out payday loans for things  you don’t need: a financially irresponsible idea.

For married couples filing jointly, you will only get the credit if your adjusted gross income is less than $150,000 annually. For single-filing workers, you will get the credit if your AGI is less than $75,000. ... click here to read the rest of the article titled "Making Work Pay Credit Kicks In"