Air Force

February 1, 2013

2013 Civilian Pay Tax Information

Recently expired legislation affecting Social Security and Federal taxes has prompted several inquiries as to what impact these changes will have to civilian employee paychecks. Below is a brief description of what has changed and what is expected to occur over the next few pay periods.

 

1. Social Security Increase:

The payroll “tax holiday” enjoyed for the past two years recently expired. The resulting increase in Social Security withholding began with pay period ending (PPE) 12-29-2012, a net 2 percent reduction in take-home pay. This pay period is the first pay period for 2013, and as such, is taxable at the 2013 rate. The increase is visible on the Old Age Survivors and Disability insurance (OASDI) line within the Deductions Category of the Leave and Earnings Statement.

 

2. Federal Tax Change:

New Percentage Method Tables for Income Tax Withholding were issued January 3, 2013. Internal Revenue Service Notice 1036 (see below) details the new tables and provides guidance on estimating 2013 income taxes. The new income tax withholding will be reflected in PPE 01-12-2013 and will not be retroactive to January 1, 2013.

 

For further information, please access IRS Notice 1036 at: www.irs.gov/pub/irs-pdf/n1036.pdf OR: virtual Finance FITW calculator: www.my.af.mil/gcss-af/USAF/ep/globalTab.do channelPageId=sA1FBF31D23 D21F6B0123ED377B730575.

 




All of this week's top headlines to your email every Friday.


 
 

 

News Briefs August 28, 2015

Run with History postponed Edwards Air Force Base’s 2nd Annual†Run with History half marathon, 10K and 5K run has been postponed until further notice. For more information, call the Rosburg Fitness Center at 661-275-GYM1 (4961). Mandatory Chief’s Panel The Chief’s Panel (enlisted call) originally scheduled for Aug. 28 has been moved to Oct. 5. The...
 
 
Air Force photograph by Tech. Sgt. Ryan Crane

U.S. Airman recognized as ‘hero’ in Paris

Air Force photograph by Tech. Sgt. Ryan Crane Airman 1st Class Spencer Stone (right), Aleksander Skarlatos and Anthony Sadler pose for a photo in Paris Aug. 23, 2015, following a foiled attack on a French train. Stone was on va...
 
 

Challenge yourself: Never give up, never quit

I once read that newly created cells in our bodies do one of two things: they either begin to decay or they become more vital. These cells choose their path based on what we demand of them. If we are sedentary, our brains signal our cells to decay; but if we exercise, our cells get...
 

 
U.S. Air Force photo by Scott M. Ash

AF Senior leaders give State of the Air Force address

U.S. Air Force photo by Scott M. Ash Secretary of the Air Force Deborah Lee James provides an update with Air Force Chief of Staff Gen. Mark A. Welsh III on current Air Force operations during a press briefing in the Pentagon, ...
 
 
Air Force photograph by Jet Fabara

Edwards AFB Express drives for value at the pump

Air Force photograph by Jet Fabara The Edwards AFB Exchange Express Gas Station. According to gasbuddy.com, gas prices could dip to below $2 a gallon by Thanksgiving. As the cost of gas continues to plummet, the Exchange wants ...
 
 
weed-zapper

Air Force, Ohio, based business develop chemical-, herbicide-free weed zapper

Good Neighbor, Inc. photograph by Ben Edwards Anyone with a lawn or a beautiful flower or vegetable garden, has surely wondered about the best method of controlling or eliminating weeds. Using chemicals and herbicides can help,...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>