Michigan Department of Treasury reminds taxpayers the 2017 tax year will not be affected when tax season begins later this month. Taxpayers should file their taxes like they have in previous years when the state Treasury Department begins accepting 2017 state income tax returns on Jan. 29. Any changes to tax laws will be experienced during the 2018 tax year and next year’s state income tax filing season.
For the 70% or so of taxpayers who claimed the standard deduction last year, the state refund reported on the 1099 is 100% tax free. It’s also tax free if you claimed the state sales tax deduction in lieu of the state income tax write-off. And, even if you itemized and claimed the income tax deduction, part of the refund may be tax free. There’s a worksheet in the instruction packet. Take the time to run through it to protect yourself against an expensive mistake. Read more at www.kiplinger.com.
Free Tax Help
Seniors and individuals with functional needs may qualify for free tax preparation help from IRS-trained volunteers or Tax Counseling for the Elderly preparers. For information about free tax help, go to www.michiganfreetaxhelp.org or dial 2-1-1.
To learn more about Michigan’s individual income tax or to download forms, go to www.michigan.gov/incometax.
Alert from Treasury On Scams
Treasury will never:
The state of Michigan’s largest sources of tax revenue are projected to bring in $2.1 billion more during the current fiscal year than they collected just two years ago, according to officials. Read more at http://www.michigancapitolconfidential.com.
Adding your number to the Do Not Call registry (www.donotcall.gov) will deflect live sales calls from legitimate telemarketers. However, it won’t stop scammers or calls for debt collection, surveys and more. Check your home-phone provider about blocking individual numbers or enabling Anonymous Call Rejection. If you get your home-phone service from an internet provider, such as Comcast Xfinity or Verizon Fios, try Nomorobo (www.nomorobo.com). (For other suggestions, go to www.ustelecom.org and click on “Sampling of Tools.”) (Author Comment: I use Nomorobo and it helps. Doesn’t stop them all but catches quite a few. Your phone rings once then no more. So don’t just and run on the first ring.)
Read more at www.kiplinger.com.
Possible Help for Caregivers
A bill that requires the federal government to develop a strategy to support the 40 million Americans who care for a loved one is on its way to the president’s desk after passing the Senate on Monday.
The bill — the Recognize, Assist, Include, Support and Engage (RAISE) Family Caregivers Act — had passed the House late last year. It directs the Department of Health and Human Services (HHS) to create an advisory council charged with making recommendations on the strategy to support family caregivers. The blueprint, which must be developed within 18 months, would address financial and workplace issues, respite care and other ways to support caregivers. Read more at AARP.org.
Robust 2017 Market Lowers Assumed Rate of Return for State Retirement Systems
Tri County Council on Aging (TCOA) Dining Sites need volunteers! Volunteers may be greeters, help serve the meals, or may provide help with the programming. Volunteers with a particular talent or interest, such as crafts, music, etc. are also needed to provide entertainment at the dining sites. If you are interested in this, please call 517-887-1393 or fill out an application at www.tcoa.org.
Health Care Affordability and Social Security Benefits–A Comparison
Posted: 27 Jan 2018 05:48 AM PST
KFF’s “analysis shows that out-of-pocket health care costs are a substantial and growing burden for many people with Medicare,” something that does not bode well for America’s seniors. The full report can be accessed at www.kff.org.
Editor’s note: June Morse may be contacted at email@example.com or 517-886-9323.
Return to top of page