federal

2017 Pay Raise Approved for Federal Employees on GS Pay Scale

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[2017 Confirmed GS Pay Raise] The president has excised his executive power and given government employees on the GS pay scale and armed service members one of the largest raises in recent times. Civilian employees will receive a combined 1.6 percent raise (vs 1.3 percent last year) per the earlier update, which is made up of an […]

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2016 Tax Brackets vs 2015 Tax Rates and Other Tax Updates (After Official IRS Figures Released)

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With the continued low inflation environment 2016 IRS Tax Brackets, standard deductions and personal exemptions (for taxes paid in 2017) only moderately increase over 2015 levels (shown in the table below). Federal income tax brackets and related tax items are adjusted annually, under the tax code, to provide for mandatory adjustments based on inflation. The tables below reflect […]

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Where Can I Check my State Tax Refund Status and Filing Information?

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[Updated for 2015-2016 Tax Year] There is a lot of focus around this time of the year on folk’s federal IRS tax return, but just as many people need to worry about one or more state tax returns. Every state varies with their local tax rules and refund processing timelines and I thought I would […]

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Will the Minimum Wage Increase?

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President Obama has proposed raising the 2013 federal minimum wage to $9, from the current hourly minimum of $7.25.  The current minimum-wage, last raised in July 2009, equals an annual income of about $15,000. Even though many states may have higher minimum wage rates than federal standards (the higher rate applies), millions of American workers would see a […]

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2012 Tax Brackets and Federal IRS Rates, Standard Deduction and Personal Exemptions

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2012 and 2011 tax rates stayed the same as 2010 levels thanks to an extension of the Bush-era tax cuts. This has been confirmed by the IRS with the release of 2012 tax tables. There was also good news in that the 2012 standard deduction and tax brackets will increase due to higher inflation, which […]

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Do I Need to File a Federal Income Tax Return in 2015-2016 ? Maybe Not If You Meet These IRS Guidelines

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[Updated for 2015-2016 Income Thresholds] The Internal Revenue Service (IRS) recommends that all adults file a tax return. Obviously, the IRS wants to have everyone pay their taxes but it is also an important way for the government to ensure that it pays out subsidies, stimulus payments and tax credits to the groups that they […]

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No Federal Pay Raise in 2011 or 2012 as Obama Freezes Federal Employee Pay Rates

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In an effort to address growing budget deficit concerns and political pressure, President Obama announced a proposal to freeze federal pay increases. This freeze would affect over two million federal government employees, and with inflation set to rise over the next few years the pay freeze essentially amounts to a pay cut for the next two years […]

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2011-2012 Federal Pay Scale Tables (GS) and No Raise From 2010 Levels As Obama Freezes Employee Pay

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[Updated : 2012 Pay Tables] Following President Obama’s Federal employee pay freeze, 2011 and 2012 GS tables will remain the same as 2010. This includes the special base rates for GS law enforcement officers (GL) at GS grades 3 through 10. Unfortunately this means that the proposed raises discussed in previous updates below will not […]

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2011 Tax Brackets, Rates and Federal Taxable Income Thresholds. Standard Deduction and Exemption Increase

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President Obama and Congress have approved a two year extension to all the Bush-era tax cuts. This means that the 2011 Federal IRS tax rates will be the same as 2010 rates, shown in the table below. However tax bracket ranges and standard deduction levels have increased slightly. A rise in tax rates would have cut the […]

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2012 vs 2011 Federal and State Minimum Wage Rates

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[Updated for 2012 Rates and Changes] The federal minimum wage rate in 2012 stays at $7.25, or $15,000 on an annualized basis. However 18 states and Washington, D.C., have raised rates above the federal level to keep up with increases in the cost of living (see graphic below). This helps state workers because if federal […]

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