kjonline wrote:
Workers urged to doublecheck withholding
...As an approximate guide, singles eligible for the credit might see about $10 per paycheck if paid weekly; those married filing jointly are likely to see an extra $15 to $20. Families should see at least a $65 per month increase in their take-home pay, according to the White House Office of Media Affairs.
However, the extra money could result in a surprise for some workers when it comes time to file their taxes, because some workers will be overpaid through their employer's withholding systems.
Those likely to be overpaid and end up either getting a smaller refund or having to pay at the end of the year include husbands and wives who both work and workers with two jobs.
Someone with two jobs could end up getting the tax credit twice -- once from both employers.
And, for a married couple, each spouse could be paid the total credit for married couples by each of their employers.
...As an approximate guide, singles eligible for the credit might see about $10 per paycheck if paid weekly; those married filing jointly are likely to see an extra $15 to $20. Families should see at least a $65 per month increase in their take-home pay, according to the White House Office of Media Affairs.
However, the extra money could result in a surprise for some workers when it comes time to file their taxes, because some workers will be overpaid through their employer's withholding systems.
Those likely to be overpaid and end up either getting a smaller refund or having to pay at the end of the year include husbands and wives who both work and workers with two jobs.
Someone with two jobs could end up getting the tax credit twice -- once from both employers.
And, for a married couple, each spouse could be paid the total credit for married couples by each of their employers.