Retired teachers chapter news: Thursday, April 6, 2017

  • 2016 sales tax break for New York, Florida and other states’ residents April 6, 2017

    Federal tax law allows taxpayers who elect to itemize deductions to deduct their state and local income taxes or state and local general sales taxes to reduce their federal income tax.

  • Reporting TRS distributions on your local income tax April 6, 2017

    If you received one or more of the distributions listed below during 2016, you are required to report the total gross amount of the distribution on line 16a and the taxable amount of the distribution on line 16b on your 2016 federal income tax Form 1040.

  • Electronic Fund Transfer (EFT) Payment for Medicare Part B April 6, 2017

    If you paid more than the standard monthly reimbursement rate for Medicare Part B in calendar year 2015 as an Income Related Monthly Adjustment Amount (IRMAA), you are eligible for additional reimbursement. If you filed promptly for your calendar year 2015 Medicare Part B IRMAA reimbursement, your reimbursement for 2015 will be deposited directly into your bank account on or about April 14.

  • Protecting what we’ve worked for April 6, 2017

    When the president’s chief strategist used the phrase “deconstruction of the administrative state” in his speech at the February meeting of the Conservative Political Action Conference, he was signaling what’s ahead in this administration. The phrase represents an ideology designed to undo 150 years of progressive achievements to establish a social safety network. It stands in contradistinction to the basic progressive belief that government at its best is a catalyst for social good.

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