Tuesday, January 8, 2013
State program allows city to dock tax debtors' reimbursement checks.
If you owe the city money when your taxes are filed, it's coming out of your state refund, according to a report from turnto10.com. The news site reports there's about $15 million in uncollected taxes for 2012. This years' tax bills were mailed on July 6. City taxes are due in quarterly payments: July 27, 2012, Oct. 15, 2012, Jan. 15, 2013 and April 15, 2013, the last coinciding with the deadline to file taxes this year. WPRO.com reports the state program, called "refund offset" is available to any municipality in the state. Residents can check out how much they owe the city online, but letters have also been sent out notifying delinquent taxpayers that their refunds will be docked. The process is governed by RI General Law 42-142-7…
Monday, January 7, 2013
The main reason is the elimination of the payroll tax holiday.
Even though the House and Senate have approved a Fiscal Cliff deal, 77 percent of Americans will pay more in taxes in 2013. That's because even though just 1 percent of households will pay higher income taxes, an increase in federal payroll taxes will hit nearly every wage earner, according to analysis by the Tax Policy Center. Individuals earning between $40,000 and $50,000 a year face an average tax increase of $579 in 2013, according to the Tax Policy Center's analysis. The average U.S. worker would pay $679 more in taxes this year under the fiscal cliff deal passed by the Senate early Tuesday morning, while the average member of the top 1 percent of earners would pay $73,633 more, according to Tax Policy Center analysis. The …
Thursday, November 29, 2012
Northern RI Chamber asks for support in lobbying lawmakers to avoid implementing Budget Control Act of 2011.
Thursday, November 29, 2012
To the Editor: By now, most readers have probably heard of the so-called “Fiscal Cliff.” By way of a basic definition, the fiscal cliff is the phrase used to describe the challenge that the U.S. government will face at the end of 2012, when all the provisions of the Budget Control Act of 2011 are scheduled to go into effect. So what does it really mean to us as residents, taxpayers, business owners and employees? Well, let’s take a more in-depth look. Specifically, let’s look at what taxes are set to increase if nothing is done by the Congress and the President to prevent the act from taking effect. Well, if Congress and the President don’t act before January 1, 2013, the following taxes are set to increase at that time: Also, taxes that…
Monday, April 2, 2012
It's tax time - tell us where to get the best deal.
It's April, and with this month's showers comes the annual tax filing deadline. Will your tax return aim a little sunshine into a rainy day, or do you need to settle with the state and Uncle Sam, ASAP? Having the right person to sort through all the forms and deductions can be a huge relief during a stress-filled time of the year. This week, we want to know: where do you take your taxes when time is running short? Do you prefer Fast Tax Refunds, C.M. Girard Tax Service, Monument Tax Associates, Woonsocket Tax Services, Liberty Tax Service, Brian Tanny, H&R Block , or Normand Champeau, C.P.A.? Vote in our poll below, then share your thoughts in the comments section. If we left your favorite service off the list, note that in the comments …