### Question
Can you define what qualified individual means?


### Answer
**Qualified individual** is defined as the following in *26 U.S.C. § 6654*:

> any individual if—



(I) the adjusted gross income shown on the return of such individual for the preceding taxable year is less than $500,000, and



(II) such individual certifies that more than 50 percent of the gross income shown on the return of such individual for the preceding taxable year was income from a small business

#### Citation:
  - *26 U.S.C. § 6654*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 68-ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIES > Subchapter A-Additions to the Tax and Additional Amounts > PART I-GENERAL PROVISIONS**

