Due to increased federal withholding, federal workers will see a lower number on their annuity checks. Higher health insurance premiums and no cost-of-living adjustments for two years make this change even more noticable.
Retirees can affect the amount of their checks bu adjusting their federal tax withholding deductions at www.opm.gov/retire or by calling 1-888-767-6738. Be aware that changing the amount of withholdings will not change your tax liability.
It's that time of the year again: The IRS wants our money, or, if we are lucky, will send us a check to give back some of those hard-earned dollars. But let's be honest: Tax time can be stressful, and tax forms can be quite confusing.
That's why the library offers free instruction booklets for your 2010 Federal Income Taxes as well as the Form 1040EZ.