Tuesday, February 5, 2013
Standard deductions go up, but the ceiling for itemized deductions go down in 2013, plus other changes that will affect your taxes this year.
The Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service
Wednesday, January 2, 2013
The U.S. House of Representatives passed the American Taxpayer Relief Act of 2012 late Tuesday night.
The U.S. House of Representatives passed the American Taxpayer Relief Act of 2012 to avert the fiscal cliff late Tuesday night. The vote was 257 to 167. U.S. Rep. Tim Murphy (R-Upper St. Clair), who represents Peters Township, voted in favor of passing the legistlation. He explained his reasoning in this statement: “The process and product are imperfect, but what has been achieved can’t be overlooked. We’ve overcome the impasse to permanently lock in lower tax rates for 99 percent of taxpayers. (The) vote opens the door for work to begin in the next session of Congress on significant cuts in federal spending, meaningful tax reform and pro-growth policies to get our country back on solid fiscal footing.” The bill permanently extends current…
Thursday, December 20, 2012
The township budget does not include a real estate tax increase.
Peters Council adopted a 2013 budget Monday night with no tax increase. The real estate tax will remain at 13 mills. However, property owners will see a slight jump in their garbage/recycing bills. The fee will go to $51.00 per quarter. The fee had been unchanged for the past five years. The 2013 budget includes the first ever gas well impact fee from the state, which will total $259,000 for Peters Township. The money is planned to be spent on road paving. A total of $1 million is budgeted for road paving in 2013. Click the pdf in the media box to the right to see the "Budget At a Glance."
Friday, November 23, 2012
However, property owners will see a slight rise in their garbage bills.
The proposed 2013 budget for Peters Township has no increase in real estate or earned income taxes. However, property owners will see a slight jump in their garbage/recycing bills. The fee will go from $46.50 per quarter to $51.00. The fee has been unchanged for the past five years. The proposal maintains the real estate tax at the current level of 13 mills, with each mill generating $327,690. The earned income tax is also planned to remain the same at 1 percent. The 2013 budget includes the first ever gas well impact fee from the state, which will total $259,000 for Peters Township. The money is planned to be spent on road paving. A total of $1 million is budgeted for road paving in 2013. The most expensive project in the proposal is $1.…
Wednesday, October 3, 2012
The first debate is over. Take our poll and tell us in comments your thoughts after watching the first face-to-face debate between Mitt Romney and Barack Obama.
In short segments that often exceeded the allocated two-minute time periods, the presidential candidates tackled economics, health care, Social Security, education, the role of goverment and the deficit in a debate that sometimes found them saying the same thing in different ways. In a debate moderated by PBS' Jim Lehrer, both Democratic incumbent President Barack Obama and Republican challenger Mitt Romney talked about domestic issues and how they would tackle them, if elected in November. Obama talked of working to make the middle class stronger, job training through community colleges, keeping tuition low, lowering tax rates especially for manufacturers, boosting American energy production and working to close the deficit. Romney talked…
Wednesday, July 11, 2012
A TEACH (Tell Everyone All Cuts Hurt) representative from Steel Valley School District takes a look at the state budget priorities.
Wednesday, July 11, 2012
Hey, Taxpayer, While you were out trying to avoid heatstroke this summer, your state government actually did something. The Pennsylvania Legislature passed another one of those pesky budgets determining exactly what your taxes have bought you this year. I don’t know about you, but I don’t mind paying taxes if I get a good return on my investment. And what better investment than our children, our future? I’m speaking, of course, about public education. So was this a good return? Let’s see: GOOD NEWS PA. BUDGET PASSED HIGHER THAN GOVERNOR WANTED: Last year, the legislature cut $818 million from public schools—especially the poorest ones. This year, the Gov. Corbett wanted $94 million in additional cuts, but instead the legislature voted to …
Tuesday, April 17, 2012
Presidential candidate Mitt Romney made a campaign stop in Bethel Park Tuesday afternoon. He addressed citizen concerns and how he'd fix them if he takes office.
Presidential candidate Mitt Romney made a campaign stop in Bethel Park Tuesday afternoon. In a picnic-like setting at the Bethel Park Community Center, he chatted with a handful of Pittsburghers about their current concerns, the state of America and what he plans to do should he unseat President Barack Obama and take office. A teacher, occupational therapist, corporate aircraft mechanic and a former school bus driver were among those who spoke informally with Romney. With it being Tax Day, they all were curious as to what Romney thinks about lowering taxes. “I’d like to reduce the burden on middle-income taxpayers,” Romney said. “I’d like to see anyone making $200,000-$250,000 or less—which is 98 percent of Americans—save their money tax-…
Monday, April 16, 2012
File your 2011 federal income tax return by Tuesday, April 17, to avoid late penalties and interest.
Monday, April 16, 2012
You still have today and tomorrow left to meet the filing deadline for your 2011 federal income tax returns. The tax deadline is traditionally April 15, but has been pushed back to April 17 this year since April 15 was a Sunday and today, April 16, is Emancipation Day in the District of Columbia. April 17 is also the final date to apply for 2011 tax extensions. The Internal Revenue Service encourages taxpayers to file returns electronically. According to a statement posted on the IRS website, e-file is "the best way to ensure accurate tax returns and get faster refunds." There are also several ways to file your taxes easily online. Some include: For tax law questions or account inquiries, taxpayers can call the IRS toll free at the numbers…
Saturday, February 25, 2012
Before you prepare your taxes, you need to read this.
Saturday, February 25, 2012
The Internal Revenue Service has issued its annual Dirty Dozen ranking of tax scams, reminding taxpayers in Peters Township and beyond to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns. “Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” said IRS Commissioner Doug Shulman. “Scam artists will tempt people in-person, on-line and by e-mail with misleading promises about lost refunds and free money…
Thursday, February 16, 2012
The company is keeping clients up-to-date via emails and text messages, according to franchisee Margaret (Peg) B. Rowe.
The expected tax refund date has been altered for many taxpayers—the IRS is taking longer to process returns. McMurray H&R Block Franchisee Margaret (Peg) B. Rowe said the IRS has experienced issues with their technology and processing of tax returns—regardless of how they were filed or who prepared them. She said H&R Block, along with many other offices that have e-filed tax returns, is keeping its clients up-to-date with anticipated refunds via email and text messages. "H&R Block has sent a total of 700,000 emails and 60,000 text messages," Rowe said. The tax preparation service has also urged clients to visit www.irs.gov and click Where's My Refund (or call 1-800-829-1954) to find out when to expect their refund. However, this is …