On Mar 22, 8:23 am, "HW \"Skip\" Weldon"
<skip5700removet...@[EMAIL PROTECTED]
> wrote:
> I have been under the impression that for married-filing-joint the
> phase out (for the stimulus plan checks) begins at $150,000 of
> adjusted gross income (2007 Form 1040, line 37).
>
> Recently I saw the income limit expressed as "earned income plus
> social security").
>
> Those can be different numbers. Can someone clarify?
The "Economic Stimulus Payment Notice" I received from the IRS says,
"Qualifying Income is earned income, Social Security benefits, and
certain veterans' payments." Qualifying Income is used to determine
the payment to people with no Net Income Tax Liability.
It goes on to say that "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).
So it appears that your first statement is correct.
Dave
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators
strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM
THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on
the
Newsgroup.
|
