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last year there was a "Making work pay credit" (#63) on the

Customer Question
1040 Federal Tax return, I...
last year there was a "Making work pay credit" (#63) on the 1040 Federal Tax return, I don't see it this year. Is this something new for tax year 2011?
Submitted: 5 years ago.Category: Tax
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Answered in 1 minute by:
4/1/2012
Tax Professional: Charles Markham, EA, MST, USTCP replied 5 years ago
Charles Markham
Charles Markham, EA, MST, USTCP
Category: Tax
Satisfied Customers: 769
Experience: IRS Enrolled Agent, US Tax Court Practitioner
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TaxWhisperer :

The $400 Making Work Pay credit existing for 2009 and 2010. It is now gone for 2011 and later. it was replaced with a 2% reduction in social security taxes on wages paid in 2011.

Customer:

If it was replaced with a 2% reduction in social security taxes on wages paid in 2011, then there is nothing to do on Form1040 anymore, is this correct?

TaxWhisperer :

Right. It doesn't show up on Form 1040 if you were just an employee last year.

Charles Markham
Charles Markham, EA, MST, USTCP
Category: Tax
Satisfied Customers: 769
Experience: IRS Enrolled Agent, US Tax Court Practitioner
Verified
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