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Re: [teacherartexchange] taxes -important!

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From: Chris Lincoln (artloverlincoln_at_TeacherArtExchange)
Date: Sun Aug 05 2007 - 15:46:06 PDT


Hi Cathy,

FYI

Just in case you made progress regarding being paid over an 11 month
period.....I was sent this email regarding tearcher's pay that is
stretched over a 12 month period, I don't know if it applies to an 11
month stretch....

Hope all is well.

Love,

Chris

On 8/4/07, Heather_Hayes@roundrockisd.org
<Heather_Hayes@roundrockisd.org> wrote:
>
> http://www.tsta.org/news/current/#IRS
> According to this article from Texas State Teacher's Association, new IRS
> guidelines call for an additional %20 tax on all annualized salaries. (if
> you get paid during the summer while not working, you're annualized) If
> you are annualized, you need to do one of 2 things to avoid the tax: 1)
> submit a request in writing for your salary to be annualized or 2) make
> sure that your district has a written policy saying that annualization is
> mandatory for that district. THIS IS SUPPOSED TO BE DONE BEFORE THE FIRST
> DAY OF THE NEW SCHOOL YEAR!!!
>
> I haven't been able to find much info on this online...but according to the
> news report I saw tonight (fox news), not many people know about this new
> tax, and there is a lot of confusion surrounding it.
>
> You guys should contact your HR departments to see what specific steps you
> should take.
>
>
> Heather Hayes
>
>
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