THE SNUGBUS Archive

I just read through whole thing ctxt

The "1200" and "600" was confusing me but I finally grokked it.

If one was under the pase out number they would get $600 in april and another $600 later for the $1200 total. if one made above the cap which is for 2018 filing, or 2019 if you had no 2018 filing.

“(d) Limitation Based on Adjusted Gross Income.—
The amount of the credit allowed by
subsection (a) (determined without regard to this subsection and subsection (f)) shall be reduced
(but not below zero) by 5 percent of so much of the taxpayer’s adjusted gross income as exceeds
$75,000

I think it is 5% for every so many $$

https://www.foxnews.com/politics/read-mitch-mcconnells-coronavirus-stimulus-proposal
SEC. 2101. 2020 RECOVERY REBATES FOR
INDIVIDUALS.

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