Main Question or Discussion Point
I just got a letter from the IRS explaining "How to Determine Your Stimulus Payment'. On one side it says:
On the other side it says:IRS said:The stimulus payments are reduced for taxpayers with adjusted gross income (AGI) of $75,000 (more than $150,000 if married filing jointly).
These two statements, while similar, are not the same. What's worse, they leave you with no way "to Determine Your Stimulus Payment". Add in this statement (emphasis mine):IRS said:For taxpayers with adjusted gross income (AGI) of more than $75,000 (or more than $150,000 if married filing jointly), the payment will be reduced or phased out completely.
I paid for this letter, I will pay for the next 'notice and additional information' when that gets sent out too, as well as paying for the stimulus check itself. There is no way I am going to spend this money. It goes right in the bank Uncle Sam, and nuts to your stimulus.IRS said:In addition, individuals eligible for payments may also receive an additional amount of $300 for each child qualifying for the child tax credit.