I'm sure this subject has been beat into the ground on this board. I apologize for the redundancy.
My very elderly retired customers (MFJ) had an AGI of $213,958 in 2019 and $156,054 for 2020
Their average AGI usually runs about $ 225K or so .
No $2,400 stimulus payment was received by them, but he said they did receive a direct deposit of $ 7 in August.
None of the subsequent $1,200 was received by them.
When I go through my software's rebate screen for 2020, it wants to give them a $2,987 credit on their 1040.
I gather that this is because their 2020 AGI had fallen to be within the credit phase-out limits.
I guess my comment is addressed more to the fairness of the credit & how it is being applied to our populace.
But maybe I'm also simply not understanding how this works & somebody out there can straighten me out.
These good people have a substantial income, and they also have a huge amount of wealth - yet they still appear to
qualify to get this economic "rescue" payment ? Am I missing something ? Thanks for comments.
My very elderly retired customers (MFJ) had an AGI of $213,958 in 2019 and $156,054 for 2020
Their average AGI usually runs about $ 225K or so .
No $2,400 stimulus payment was received by them, but he said they did receive a direct deposit of $ 7 in August.
None of the subsequent $1,200 was received by them.
When I go through my software's rebate screen for 2020, it wants to give them a $2,987 credit on their 1040.
I gather that this is because their 2020 AGI had fallen to be within the credit phase-out limits.
I guess my comment is addressed more to the fairness of the credit & how it is being applied to our populace.
But maybe I'm also simply not understanding how this works & somebody out there can straighten me out.
These good people have a substantial income, and they also have a huge amount of wealth - yet they still appear to
qualify to get this economic "rescue" payment ? Am I missing something ? Thanks for comments.
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