Posts Tagged ‘social security’

How Will FICA Affect Your Paycheck?

Thursday, January 22nd, 2009

I’ve blogged before on President Obama’s plan to raise income taxes on Americans making more than $250,000 a year.
But something that has not been in the spotlight quite as much is Obama’s proposal to raise the cap on the Federal Insurance Contributions Act (FICA). FICA is a tax that funds Social Security and Medicare.
Brian Compton, my associate and the President of Tax Resolution Services, was recently interviewed by Craig Clough
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Posted in Tax news and tips | 1 Comment »

2008 TAX STIMULUS PAYMENTS

Friday, March 7th, 2008

STIMULUS PAYMENTS
FROM THE INTERNAL REVENUE SERVICE
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Directly from the February 15, 2008 issue of the IRS Newswire:
“WASHINGTON–The Internal Revenue Service released additional information today about the upcoming economic stimulus payments in a specially designed section for taxpayers on IRS.gov.
The new information includes an extensive set of Frequently Asked Questions about the stimulus payments, with a special emphasis on recipients of Social Security and certain veterans’ benefits. Millions of people in this
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Posted in Taxpayer Rights, Unfiled Returns - Delinquent Tax Returns, Working with the IRS | 2 Comments »