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.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/1040-form-schedule-m/
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.