What are the income limits based on for the federal stimulus package being passed by the federal gov’t?
Monday, March 8, 2010 10:18Posted in category 2009 Stimulus Check
The stimulus package »”>stimulus package phases out for those individuals who make more than $75,000. How are they determining the $75,000. For example, is it based on 2007 or 2006 AGI from the individuals 1040 form, or W-2’s from a certain year? Please let me know, and if you have a link so that I can see. Thanks.
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Richard M says:
March 8th, 2010 at 10:56 am
The proposed tax rebate is based on your 2007 income and tax liability. The phaseout provision is based on your AGI.
The rebate will be phased out for taxpayers with adjusted gross income above $75,000 for singles and $150,000 for married couples filing jointly.
Yahoo! Answers links do not seem to be functional at the moment. The link is below in three pieces. Cut and paste it together…
http://www.whitehouse.gov/
news/releases/2008/
01/20080124-4.html