The first paychecks of 2011 are being prepared. Or maybe you’ve already gotten one. You might be in for a surprise. Despite all the talk about the 2 percent payroll tax cut that’s in effect this year, including by me here on Bankrate’s Taxes Blog, some folks won’t get any benefit from the new law.
With just three days left to the annual tax-filing deadline, people are still having problems with the Making Work Pay credit. To actually get the credit now, you have to file Schedule M with your return. Still confused? Welcome to the world of U.S. taxes!