http://moneysmartlife.com/alternative-minimum-tax-and-federal-income-tax-withholding-changes/ Money Tips for a Better Life Fri, 19 Mar 2010 21:04:57 -0400 http://wordpress.org/?v=2.8.4 hourly 1 http://moneysmartlife.com/alternative-minimum-tax-and-federal-income-tax-withholding-changes/comment-page-1/#comment-146071 James Link Sat, 11 Apr 2009 22:34:04 +0000 http://moneysmartlife.com/alternative-minimum-tax-and-federal-income-tax-withholding-changes/#comment-146071 The Stimulus plan includes a provision for the reduction of Federal Income Tax withholding for many employees during years 2009 and 2010. Called the “Making Work Pay,” tax credit, it includes a 6.2 percent reduction of Federal Income Tax withholding. Is this a tax “cut” in that while people are getting more in their paychecks now, they will have a lower tax rate for 2009 so they in effect will “keep it” come April 15th 2010? The Stimulus plan includes a provision for the reduction of Federal Income Tax withholding for many employees during years 2009 and 2010. Called the “Making Work Pay,” tax credit, it includes a 6.2 percent reduction of Federal Income Tax withholding. Is this a tax “cut” in that while people are getting more in their paychecks now, they will have a lower tax rate for 2009 so they in effect will “keep it” come April 15th 2010?

]]> http://moneysmartlife.com/alternative-minimum-tax-and-federal-income-tax-withholding-changes/comment-page-1/#comment-141945 Bob Wagner Mon, 23 Mar 2009 17:54:13 +0000 http://moneysmartlife.com/alternative-minimum-tax-and-federal-income-tax-withholding-changes/#comment-141945 Can nayone answer two questions. The Stimulus plan includes a provision for the reduction of Federal Income Tax withholding for many employees during years 2009 and 2010. Called the “Making Work Pay,” tax credit, it includes a 6.2 percent reduction of Federal Income Tax withholding. Is this a tax "cut" in that while people are getting more in their paychecks now, they will have a lower tax rate for 2009 so they in effect will "keep it" come April 15th 2010? Second question- what is the income level cutoff for this provision? Can nayone answer two questions. The Stimulus plan includes a provision for the reduction of Federal Income Tax withholding for many employees during years 2009 and 2010. Called the “Making Work Pay,” tax credit, it includes a 6.2 percent reduction of Federal Income Tax withholding. Is this a tax “cut” in that while people are getting more in their paychecks now, they will have a lower tax rate for 2009 so they in effect will “keep it” come April 15th 2010?
Second question- what is the income level cutoff for this provision?

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