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Re: [teacherartexchange] taxes -important!

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From: Chris Lincoln (artloverlincoln_at_TeacherArtExchange)
Date: Sun Aug 05 2007 - 15:46:58 PDT


Please disregard my previous email, I had meant to forward it on to a
colleague!!

On 8/5/07, Chris Lincoln <artloverlincoln@gmail.com> wrote:
> 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
> >
> >
> > ---
> > To unsubscribe go to
> > http://www.getty.edu/education/teacherartexchange/unsubscribe.html
> >
>

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