I did free efile with tax software on IRS website and put that I didn't get $400 so they gave me the deduction? I thought it was supposed to be as reduced withholding taxes for working people?Making work pay IRS deduction for $400? How does that supposed to work on filing taxes for last year?
You get $400 credit if your earned income is more than a limit. You complete schedule M (Form 1040).Making work pay IRS deduction for $400? How does that supposed to work on filing taxes for last year?
That's exactly what it was. And then you get a $400 credit on your taxes to make up for the extra $400 that you got in your paycheck during the year. It balances out.
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