- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
NOT a fact, just a supposition:
Knowing the IRS, they wouldn't cut the threshold in half for MFJ, what they would do is not give any credit for filing MFS.
Here is the exact wording from the bill which you can read at https://www.congress.gov/bill/117th-congress/house-bill/1319/text#toc-H8175A5313F2D4A63BC9766BF246BA...
SEC. 9042. SUSPENSION OF TAX ON PORTION OF UNEMPLOYMENT COMPENSATION. (Bold is mine)
“(1) IN GENERAL.—In the case of any taxable year beginning in 2020, if the adjusted gross income of the taxpayer for such taxable year is less than $150,000, the gross income of such taxpayer shall not include so much of the unemployment compensation received by such taxpayer (or, in the case of a joint return, received by each spouse) as does not exceed $10,200.
“(2) APPLICATION.—For purposes of paragraph (1), the adjusted gross income of the taxpayer shall be determined—
“(A) after application of sections 86, 135, 137, 219, 221, 222, and 469, and
“(B) without regard to this section.”.
So as you can see it is up to interpretation and I suspect a stormy road. Calls to congress people by those that will be affected are probably appropriate starting now.
