Tax Alphabet Soup: The New Schedule M

The IRS has created a new schedule that millions of filers will have to complete next year: Schedule M for the payroll tax credit that was enacted as part of the latest stimulus bill. Anyone with earned income must use the new schedule to compute the credit for their 2009 tax return.

If you're used to doing your tax return on paper, make sure plan on including this new schedule or it will be likely that your return processing will be delayed.

If you rely on a qualified tax preparer to complete your return, you can be sure the new schedule will be completed.