Last year millions of Americans like me got a tax credit called the Making Work Pay Tax Credit (Schedule M). I discovered last week that there is no more Making Work Pay Tax Credit for 2011 tax returns. The amount of the tax credit was close to the amount I save on the 2% FICA payroll tax reduction. What the government gives with one hand, the government takes away with the other. I have not seen any news stories regarding this manipulation.
Had not heard about that detail...this is what makes FR so great, getting often ignored stories. Thank you for letting me know about that detail.
As for the Making Work Pay Tax Credit, my guess would be that folks using the 1040-EZ probably wouldn’t be looking around near it.