This is another guest post from Joe Plemon from Plemon Financial Coaching. Joe is the Money Columnist for The Southern Illinoisan.
In February, President Obama signed the American Recovery and Reinvestment Act of 2009. This act includes a tax credit on “earned income” which should have been reflected on your pay checks starting in April. Specifically, individuals with MAGI (modified adjusted gross income) of up to $75,000 will receive the lesser of 6.2% of their MAGI or $400 credit in 2009 and 2010. Married couples with MAGI up to $150,000 will receive the lesser of 6.2% or $800 credit this year and next. […]
