Category: Tax

The Trump GOP Prescription For America: Don’t Get Sick

Yes, ladies and gentlemen, Donald Trump still insists he’s going to Make America Great Again! Mind you, it won’t be a healthy or vigorous America — in fact, it will be coughing and wheezing to the grave, but boy, will it be great! If you ever needed further evidence that Trump doesn’t give a single good goddamn about the people who elected him, just look at his treacherous turnabout on health care. This Republican “repeal and replace” bill stinks on so many levels I’m tempted to say it should be taken far out to sea and dumped into the deepest depths of the Mariana Trench but I have too much regard for marine life, even the kind with the big googly eyes and the really scary teeth.

Five Provisions of New Healthcare Legislation that Affect Employee Benefit Plans

Early on Thursday morning, March 9, the Committee on Ways and Means of the U.S. House of Representatives passed legislation that would fundamentally restructure the Affordable Care Act . Although much press attention on the legislation has focused on the changes to Medicaid and the individual health insurance market, the legislation reported by the Committee on March 9 makes changes to employer-based insurance coverage as well.

Trumpcare’s biggest losers: Trump voters

… by a margin of 59 percent to 36 percent. The plan is especially disastrous for groups who typically face the highest health care costs: older and rural Americans. That’s because the tax credits offered are flat across the board instead of varying …

Here are 12 easy moves to cut your tax bill

… uses. Elder care may be included, too. What’s covered can vary among employers, so check out your plan’s documents. Health savings accounts are tax-exempt accounts you can use to pay medical expenses. If you have a high-deductible health care plan, …

Republicans claim their tax cuts will mostly help the middle class. It’s a lie.

Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events Fear not, middle class Americans: this multi-millionaire from Goldman Sachs and his billionaire boss have your best interests at heart. “We are going to massively lower taxes on the middle class, reduce taxes on American business and make our tax code more simple and much more fair for everyone including the people and the business,” said Donald Trump in his speech at CPAC today, with characteristic eloquence.

AARP offering free tax prep

If you are one of the many Hudson Valley residents who need help with your tax return, free tax preparation is available from AARP Foundation Tax-Aide’s IRS trained and certified volunteers through the Hudson Valley CA$H Coalition. With the addition of several new tax preparation sites in Dutchess and Orange counties last year, 7,655 residents of Dutchess and Orange counties – an increase of more than 500 individuals – received help preparing and filing their taxes.

Take these steps if you haven’t gotten your W-2

You’re ready to file your taxes – except for one thing: You’re still awaiting an IRS Form W-2 from an employer. Each January, companies issue W-2s to inform workers, and Uncle Sam, of the amount of money the worker made during the previous year and how much in income, Social Security and Medicare taxes was withheld.

Retirees might need to file taxes in certain situations

DEAR SAVVY SENIOR: What are the IRS income tax filing requirements for retirees this tax season? My income dropped way down when I retired last year in 2016, so I’m wondering if I need to even file a tax return this year. DEAR NEW: There are several factors that affect whether you need to file a federal income tax return this year, including how much you earned last year , the source of that income, as well as your age and filing status.

Haven’t Gotten Your W-2? Take These Steps

You’re ready to file your taxes – except for one thing: You’re still awaiting an IRS Form W-2 from an employer. Each January, companies issue W-2s to inform workers, and Uncle Sam, of the amount of money the worker made during the previous year and how much in income, Social Security and Medicare taxes was withheld.

Who will prepare your tax return?

… to repeal the Affordable Care Act, the IRS is reminding millions of Americans they still need to sign up soon for health insurance if they don’t want to pay fines. Even as Republicans in Congress race to repeal the Affordable Care Act, the IRS is …

Some refunds delayed as IRS battles fraud

… longer be valid if they weren’t used at least once in the last three years or if the number was issued before 2013. a HEALTH INSURANCE: For those who didn’t have health insurance in 2016, the penalty, or “shared responsibility” in government …

AARP free tax help program offered in February, April

The AARP Tax-Aide Program will once again be offering free tax return preparation for all low and moderate-income taxpayers on Mondays and Thursdays, from 9:30 a.m. to 3:30 p.m., from Feb. 2 to April 13, at the Knights of Columbus Hall, 312 Franklin St., Marietta . Taxpayers should bring all W-2s, 1099s, 1098s, picture ID and Social Security cards for all family members, and a copy of last year’s return, if available.

Free tax preparation coming soon

Community Support Services will again be providing Free Tax Preparation for the 2016 season. The program is entirely funded by community donations to the United Way of Ottawa County and provides free income tax preparation services for families with incomes below $65,000 through the Volunteer Income Tax Assistance program.

Tax Advocate: Use tax breaks you’re entitled to

… Revenue code to you, yourself,” she said. “If you’re an employee, you might be benefiting from employer-provided health insurance or tax-deferred retirement savings,” she said. “If you own a home, you may be benefiting from the deduction of mortgage …

Back briefs

If you haven’t signed up for health insurance, you may soon be getting a not-too-subtle nudge from the taxman. The IRS is sending personalized letters to millions of taxpayers who might be uninsured, reminding them that they could be on the hook for hundreds of dollars in fines under the federal health care law if they don’t sign up soon through HealthCare.gov .

IRS letters warn millions over insurance penalty

If you haven’t signed up for health insurance, you may soon be getting a not-too-subtle nudge from the taxman. The IRS is sending personalized letters to millions of taxpayers who might be uninsured, reminding them that they could be on the hook for hundreds of dollars in fines under the federal health care law if they don’t sign up soon through HealthCare.gov.

Personalized IRS letters nudge uninsured to get coverage

If you haven’t signed up for health insurance, you may soon be getting a not-too-subtle nudge from the taxman. The IRS is sending personalized letters to millions of taxpayers who might be uninsured, reminding them that they could be on the hook for hundreds of dollars in fines under the federal health care law if they don’t sign up soon through HealthCare.gov.

IRS letters nudge uninsured to get coverage

WASHINGTON  - If you haven’t signed up for health insurance, you may soon be getting a not-too-subtle nudge from the taxman. The IRS is sending personalized letters to millions of taxpayers who might be uninsured, reminding them that they could be on the hook for hundreds of dollars in fines under the federal health care law if they don’t sign up soon through HealthCare.gov.

Household Employee Taxes: What NOT To Do

If you hire domestic employees – or household employees – such as nannies, gardeners, or senior caretakers, you are required to pay and withhold social security and Medicare taxes. You will have to obtain an Employer Identification Number as well as provide each employee with a W-2 no later than January 31st.If you have an accountant or payroll service to help you out, filing taxes for domestic employees should be easy.

Tax breaks, health care options on tap for 2017

Each year, business owners can count on changes in tax law and other rules. For 2017, small businesses are getting a bigger deduction for equipment purchases, and those that aren’t required to provide health insurance will have an option to help staffers pay for coverage.

Think of those who need help

… Obviously, there is some crossover in these initiatives. * Nearly one-fourth of the people in our country have health insurance paid for entirely by state and federal governments, through the Medicaid and CHIP programs (CHIP is for children). The …

Commentary: Wrapping up a tumultuous year

… Readmission Program Act, which was included in the 21st Century Cures Act. It would require the Department of Health and Human Services to adjust its readmission penalty for hospitals whose readmission rates it deems are too high. This program was …

The new OMB’s director’s first order of business? Standing up to Trump.

AS THE federal government has grown, so has the power and responsibility of the White House-based agency charged with keeping tabs on spending, revenue and regulation. The director of that agency, the Office of Management and Budget, is much more than the president’s bean-counter; he or she is a key player on policy, as well as, traditionally, the voice of fiscal responsibility both within the executive branch and in the public arena.