1040 Form Schedule M

Business, Legal & Accounting Glossary

Definition: 1040 Form Schedule M

1040 Form Schedule M

Full Definition of 1040 Form Schedule M

Making Work Pay Credit. This form is used for taxpayers who are not claimed as a dependent by another taxpayer, those who are not a nonresident alien and have a valid Social Security number, or those who have received an earned income – although the maximum credit is reached at $6,451 for individual taxpayers and $12,903 for those who are married and filing jointly. This credit equals 6.2 percent of an individual’s earned income, with a maximum of $400 for individual taxpayers, and a maximum of $800 for married couples who file jointly. Married couples are eligible for the credit, even if only one spouse works.

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Modern Language Association (MLA):
1040 Form Schedule M. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 29, 2021 https://payrollheaven.com/define/1040-form-schedule-m/.
Chicago Manual of Style (CMS):
1040 Form Schedule M. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/1040-form-schedule-m/ (accessed: November 29, 2021).
American Psychological Association (APA):
1040 Form Schedule M. PayrollHeaven.com. Retrieved November 29, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/1040-form-schedule-m/

Definition Sources

Definitions for 1040 Form Schedule M are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 13th November, 2021 | 0 Views.