Suzie Creamcheese uncovered a very important story about a new IRS code regarding what they call 'annualized income'. This is very important for teachers who spread their paychecks over the entire year.
I have asked our staff to research this and publicize the information to our teachers. I will post the information as soon as I get it.
Please post information if you find it before me.
*UPDATE: I found out some preliminary information tonight and will post more as I get it. Hillsborough County Teachers do not need to worry about this new code. We hold out taxes unlike some school districts. This code applies to teachers in districts that do not withhold taxes. Again, there is no need to worry based on what I have been told. I will post specific information later, but I thought this was important and wanted to ease concerns as soon as I found something out.
4 comments:
THANK YOU!!!!
tax the lowest paid professionals some more... thanks for keeping us in the know, April.
Speaking of pay...
I thought you might find this interesting.
I read in a news article I found on Google that discusses problems with Florida teacher pensions. Do you know anything about this or the repercussions for retiring teachers? It's rather disturbing.
http://www.dailykos.com/story/2007/12/1/52719/4342
Anonymous 10:49,
Hillsborough is safe and will be able to make payroll with no problem. Unfortunately some of the smaller counties have more to worry about. I will get a brief synopsis of the SBA and if there are any repercussions for retiring teachers. To the best of my knowledge it does not affect retirees, but I will find out for sure.
April
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