While =($A$1+$B$1)-$C$1 returns zero, =(($A$1+$B$1)-$C$1) does not, and
it is this later calculation that IF() is basing its decision on.
None of your numbers have exact binary representations, and hence must
be approximated (just as 1/3 must be approximated in decimal). The
(IEEE standard) binary approximations to the numbers involved in the
final subtraction are
84.8999999999999914734871708787977695465087890625
-84.900000000000005684341886080801486968994140625
--------------------------------------------------
-0.0000000000000142108547152020037174224853515625
so Excel is exactly correct (given the approximations to the inputs) to
report the answer for =(($A$1+$B$1)-$C$1) as -1.4210854715202E-14, and
IF is correct to report that the result is not zero. And almost all
other general purpose software will behave in the same manner. The real
mystery is why =($A$1+$B$1)-$C$1 claims that the result is zero.
The key to that mystery is hidden in the knowledge base article (78113)
that Bernard referenced. Where it says that "Excel 97, however,
introduced an optimization that attempts to correct for this problem"
[that finite precision binary math sometimes produces correct but
unexpected results when subtracting numbers would be equal in decimal
representations]. What they did is to assume that if a final
subtraction involves two numbers that are equal to at least 15 decimal
digits, then Excel will arbitrarily zero the result on the assumption
that the non-zero difference is residue from binary approximations.
This arbitrary zeroing does not occur if the subtraction is not the last
operation (as when the last operation is surrounding parentheses, or
within an IF function) since the required assumption may be wrong, in
which case the arbitrary zeroing would reduce accuracy that introduced
inaccuracy could be magnified by subsequent calculations.
IMHO this "optimization" was a mistake, since it fails to eliminate the
situation it was aimed at, and instead makes Excel's math appear
inconsistent even to those who do understand the binary issues.
Jerry