"Elle" <honda.lioness[at]spamnocox.net> wrote

- quote -

Not useful in this case.

Since I already knew my AGI, the calculator was not useful,
since one must make a large number of intermediate entries
to enable the calculator to perform.

Nevertheless, Thanks.

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"Phil Marti" <prm20871[at]verizon.net> wrote

- quote -

Thanks. That is exactly what I was looking for.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"CWLee" <cdubyalee[at]post.harvard.edu> wrote
- quote -

Perhaps the IRS's online calculator for stimulus payments
would be helpful. See the link at
http://www.irs.gov/newsroom/article/...tml#Calculator

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"CWLee" wrote:

- quote -

The reduction is 5% of your AGI above the applicable limit.

--
Phil Marti
Clarksburg, MD

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I received a form notice from the IRS describing the amount
of the stimulus payment under certain common situations.
The final sentence reads: "The stimulus payments are
reduced for taxpayers with adjusted gross income (AGI) of
more than $75,000 (more than $150,000) if married filing
jointly).

What is the formula or rule that determines the amount of
the reduction?

Thanks.

--
----------
CWLee
Former slayer of dragons; practice now limited to sacred
cows. Believing we should hire for quality, not quotas, and
promote for performance, not preferences.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >