Schedule M

[Hanover Jim]

I have a question about this new Schedule(M) for the upcoming tax year. Items 10 and 11 on that form are Yes & No questions. #10 asks about receiving $250 through SS and #11 about receiving a pension from a Federal or local govt that was not subject to Social Security. Asking clients a "Did you receive...." type question gets all types of responses. I didn't see anything on the SS input screen that addresses it. Are we to assume that if they received SS that the $250 was included? How about if SS only began in the last 2 or 3 months of the year? With question #11 ...will most people know that response? Thanks.

[mcb39]

They are supposed to be setting up a search page on the IRS website, where we can check to see if the taxpayers received the $250; just like we were able to check on the Recovery Rebate Credit last year. I have not checked to see if it is there, but that is what the IRS speakers told us in school last fall.

[Jack from Ohio]

They are supposed to be setting up a search page on the IRS website, where we can check to see if the taxpayers received the $250; just like we were able to check on the Recovery Rebate Credit last year. I have not checked to see if it is there, but that is what the IRS speakers told us in school last fall.

The IRS speaker at our local PTP group answered the question about a look-up page with "I have no clue!"

Since the checks were sent from SS, how would the IRS have the information to make available to us?

Anyone that thinks the SS & IRS will become real chatty and share information also stored food for Y2K, and believes in man made global warming.

[Lloyd Hudson]

I have a question about this new Schedule(M) for the upcoming tax year. Items 10 and 11 on that form are Yes & No questions. #10 asks about receiving $250 through SS and #11 about receiving a pension from a Federal or local govt that was not subject to Social Security. Asking clients a "Did you receive...." type question gets all types of responses. I didn't see anything on the SS input screen that addresses it. Are we to assume that if they received SS that the $250 was included? How about if SS only began in the last 2 or 3 months of the year? With question #11 ...will most people know that response? Thanks.

i just received my SSA-1099 and the $250.00 is not included or referenced on it. I did receive the 250.00 in May but can find no place either at Social Security or the IRS websites to confirm that. I doubt that folks that started receiving benefits after May or June received it. Do not kno that but experience says.,

[mlinder42]

From what I have read but can not remember where you had to begin receiving benefits in January 2009 or before to receive the 250.

[JRS]

From what I have read but can not remember where you had to begin receiving benefits in January 2009 or before to receive the 250.

From SSA site: Individuals who were not eligible for Social Security, SSI, Veterans, or Railroad Retirement benefits at any time during the months of November 2008, December 2008, or January 2009 are not eligible for the one-time payment.

[Granny Coral]

From SSA site: Individuals who were not eligible for Social Security, SSI, Veterans, or Railroad Retirement benefits at any time during the months of November 2008, December 2008, or January 2009 are not eligible for the one-time payment.

Thanks, JRS, we needed to know that....

What confuses me is the statement in the instructions that says "Though all eligible taxpayers must file Schedule M to claim the making work pay credit, most workers got the benefit of the credit through larger paychecks, reflecting reduced federal income tax withholding during 2009." Well are the eligible to get the $400 or not. How would we know if their employer used the reduced tax tables???? I know a few who did and a couple who did not.

[jainen]

>>How would we know if their employer used the reduced tax tables?<<

In my opinion. it makes no difference at all to the tax preparer. We will simply complete the tax return and determine the total tax liability in the usual way. Then we will apply the withholding, estimated tax, and refundable credits including Make Work Pay, and the result will be a balance due or refund. Presumably many people had less withholding, and that will show up now as a smaller refund. When this was first announced, it was sometimes said that "you have to pay it back" but the same could be said of advance EIC. In my opinion, you actually get the same money either way, in a bigger paycheck OR a bigger refund, or maybe a little of each, but not both.