What are the income limits based on for the federal stimulus package being passed by the federal gov’t?
The stimulus package phases out for those individuals who make more than ,000. How are they determining the ,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.
Posted in federal stimulus
content rss
June 1st, 2009 at 12:28 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