Diane Posted March 30, 2009 Report Posted March 30, 2009 What I've read says that an individual with 'Earned Income' is eligible for the $400 tax credit for 2009. Does pension income qualify? Just received April's pension payment and the withholding has been reduced by $68.00/month. We are also receiving Social Security, which means that the $400 will be reduced by the $250 payment received -- which leaves $150 left over -- if pension income qualifies. Otherwise, we will be in the hole next year on our withholding. If the pension doesn't qualify for the $400 and other taxpayers' have the same problem with the withholding, there will be a lot of retired folks screaming next year because of the drop in withholding. Right now I plan to call the Administrator and change the withholding back to the orginial amount by adding extra. Diane Quote
joans Posted March 30, 2009 Report Posted March 30, 2009 I am not looking forward to preparing taxes next year because of the new stimulus plan. There are going to be a lot of people screaming next year because of the Fed WH "plan". People are going to be getting lower refunds or end up owing that normally don't. It is going to be a lot more stressful next year:( Enjoy the summer while we can. Quote
Jack from Ohio Posted March 31, 2009 Report Posted March 31, 2009 I see a HUGE opportunity to grow my business!! T_ _ bo-Tax will be very good for my business again next year. Do you thing the average citizen will understand the questions to fill in the "Do It Yourself" tax softwares? I have several new clients this year because I said I understand what T_ _bo-Tax does not!! Bring on the complications!! Quote
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