If I understand the stimulus payment program, the following conditions exist: Single or MFS taxpayer, no children, no tax liability, qualified income greater than $3000: payment is $300. Single or MFS taxpayer, no children, at least $1 tax liability, qualified income less than $8750: payment is zero Single or MFS taxpayer, no children, at least $1 tax liability, qualified income is $8750 or more: payment is $300 to $600 depending on tax liability.
The same three conditions exist for HOH except the qualified income threshhold is $11250. The same three conditions exist for QW except the qualified income threshhold is $14100. The same three conditions exist for MFJ except the qualified income threshhold is $17500 and the payment is $600 to $1200.
Is this correct? If it is, people who have a tax liability and qualified income of more than $3000 but less than the threshholds are really going to be upset.
If the qualified income is more than the threshhold amount, the payment is calculated as follows: Tax liability Payment
1 - 300 300 301 - 599 Tax liability 600 or more 600MFJ figures:
1 - 600 600 601 - 1199 Tax liability 1200 or more 1200If all this is correct, you don't need a fancy calculator, you can put the figures in a simple easy-to-read matrix, which I have done. If this is not correct, I do not understand the program and give up trying to understand it.
Ed Durall