please don't crucify me.Is president Obama's tax plan actually being implemented yet?

[w8liftinglady]

I can't seem to find any info on implementation.I need it for a ltte.Thanks in advance

[LaurenG]

1. Yep - look at your pay stub, you're paying less in federal taxes

http://www.bizjournals.com/phoenix/stories/2009/03/30/daily30.html

[w8liftinglady]

2. Thank you so much.I like to have my facts straight

[Raine1967]

3. self delete

[ayeshahaqqiqa]

4. As the one who does the books for my clinic

I can say yes it is. We were required to start withholding less federal taxes starting April 1, and were encouraged to start before then.

[biopowertoday]

7. But the tax code itself was not changed. right? -meaning next April

those who got withheld less will just not just as much back next tax cycle.

I read this somewhere.
Can you verify (or set me straight please).

[ayeshahaqqiqa]

9. All I know is that in mid-March the IRS sent me a new booklet

to figure out withholding. And Quickbooks, the accounting software program I use, upgraded to the new taxes at the same time. Sorry I can't tell you more than that.

[JimWis]

14. When you do your 2009 tax return next spring - there is a $ 400

refundable credit for single filers and $ 800 for married filers. The tax tables have been adjusted to reflect this $ 400 and $ 800. So you are getting it all year instead of just next spring when you file. So it will not effect what you normally get back. BUT - married couples and folks with 2 jobs should be careful. You might get too much lower and end up owing. The tax tables only work for a single person, one job, or a married person, only one working. So, some folks are taking extra out and bringing their federal withholding back up to where it was earlier in this year.

[TheCowsCameHome]

5. What's with the one time payment coming in May?

[LaurenG]

6. I think that one is for SSI recipients

Who will receive the one-time $250 economic recovery payment?

The law provides for a one-time payment for certain individuals who receive Social Security, Supplemental Security Income (SSI), Railroad Retirement and Veterans benefits. If you were eligible for one of these benefits at any time during the months of November 2008, December 2008 or January 2009, you may be eligible for the one-time payment. To receive the payment, your address of record must be in one of the 50 states, the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, or the Northern Mariana Islands.



If I am eligible for the one-time payment, when will I receive it?

You should receive your one-time payment by the end of May 2009. You don’t need to do anything to receive this payment. Social Security does not need to contact you to request information. Please do not contact us about your payment unless you do not receive it by June 4, 2009. The Department of the Treasury will be sending payments throughout the month of May.

http://www.socialsecurity.gov/pubs/10519.html#1

[ayeshahaqqiqa]

10. I'm hoping it is for SSD too

That's Social Security Disability, where people have paid in the max in FICA but have had health issues that makes them have to tap into the system a few years early.

[biopowertoday]

8. see post 7

[rucky]

11. Pontius, get the nails!

[w8liftinglady]

12. lol...if you've ever posted a ? without researching it here,you'd know what I mean..

[rucky]

13. Google may be your friend

but the conversation is lousy.