I understand that as a single person, I’m getting a $400 tax credit. How soon can I expect to receive it?

I understand that as a single person, I’m getting a $400 tax credit. How soon can I expect to receive it?

The Making Work Pay credit is not being paid by a check in the mail (as was the case with the stimulus check in 2008). The credit will be paid to employees through an increase in take-home pay (a reduction in withholding). Employers should receive revised withholding tables in late spring and, assuming you’re eligible for the credit, you’ll start to receive a portion of the credit in each paycheck for the rest of the year, as well as in 2010. Since the credit is retroactive to January 1, 2009, you’ll see this reflected in the reduced withholding. The reduced withholding won’t impact your Social Security benefits in any way.

The credit is limited to workers who have income less than a set amount. The credit phases out for workers with modified adjusted gross income between $75,000 and $95,000 for singles, and between $150,000 and $190,000 for joint filers. How employers will know which employees are eligible for the credit and which are not has yet to be determined.