Golden Sun eXtra Your Local News Source, Mohave County, AZ

U.S. - You could be one of over 15 million taxpayers that could unexpectedly owe taxes when you file your federal returns in 2010. The government says they are being too generous with the new Making Work Pay tax credit. If you have more than one job, are married and both spouses work, or receive Social Security benefits while also earning taxable wages, you will have to pay back your tax credit.

President Barack Obama intended to pay individuals up to $400 and couples up to $800 in the massive stimulus package enacted in February. Most workers started receiving the credit through small increases in their paychecks in April. The tax credit was made available through new withholding tables issued by the IRS. The withholding tables, however do not take into account taxpayers with multiple jobs or married couples in which both people work. They also don't take into account Social Security recipients with jobs that provided taxable income.

Social Security sent out $250 payments to more than 50 million retirees in the spring as part of the economic stimulus package. However, they went to many retirees who also received the tax credit. Those retirees will have the $250 payment deducted from their tax credit.

So guess what? - If you fall into this group, when you file your tax return in the spring, long after the money has been spent, you are going to pay it back. All they have to do is take it from you. And if you happen to still owe taxes from this year, they will add penalties and interest and take that too.

Of course the U.S. government is never at fault...

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