Stimulus Phase Out Calculation

The payment amount phases out completely once a filer s agi exceeds the maximum agi for the filing status.

Stimulus phase out calculation. Once the agi for a filer hits the income limit for the full stimulus check the amount of the payment is reduced by 5 for each 100 above the threshold. If you file as head of household the reductions begin at 112 500 if you are single widowed or divorced and claim. For married couples filing jointly the phase out begins at an agi of 150 000.

If you file as head of household the reductions begin at 112 500. If you are single widowed or divorced. For married couples filing jointly the phase out begins at an agi of 150 000.

Calculator based on text of the consolidated appropriations act 2021 based on the bill the calculator assumes a phase out of 5 percent of every dollar over the full stimulus. Additionally qualifying children aged 16 and under can net their eligible parent s 500 extra per child. For married couples filing jointly the phase out begins at an agi of 150 000.

The second stimulus checks would be phased out entirely for single people earning over 87 000 or married couples earning more than 174 000 compared with the cares act s phaseout for single. The same sliding scale applies for couples earning. How does the stimulus check calculator estimate reduced payments.

The checks phase out completely if you earn 99 000 or more the same sliding scale applies for couples earning between 150 000 and 198 000. For single people the payments are reduced for those with adjusted gross incomes agi above 75 000. Our calculator uses the rate of reduction provided by the irs 5.