Blogging Documents

Branches throughout the Tulsa City-County Library system have received countless questions about what immediate relief is coming from President Obama’s American Recovery & Reinvestment Act of 2009. The answer is… some, but not much. Here is a small attempt to answer some of the questions and clarify the confusion.

Could this legislation affect 2008 tax returns? Generally, no. The new legislation does not have any major impact for the vast majority of individuals preparing their 2008 tax returns due April 15. Instead, these changes will largely impact 2009 tax returns filed next year, in 2010. Taxpayers should continue to prepare their 2008 tax returns as they normally would.

So what’s in this legislation for Americans in the short term?
The Making Work Pay Tax Credit will affect many Americans in the short term. This credit will begin to appear immediately in your paycheck, as withholdings will be adjusted by your employer to money more immediately where you need it, in your pocket. Taxpayers who do not have taxes withheld by an employer will receive this credit when their 2009 taxes are filed.

There’s also The Economic Recovery Payment, a one time $250 payment for retirees, disabled individuals and Supplemental Security Income (SSI) recipients receiving benefits from the Social Security Administration, disabled veterans receiving benefits from the U.S. Department of Veterans Affairs, or Railroad Retirement beneficiaries. There is no form to file for this payment. The check will come directly from SSA, VA or the Railroad Retirement Board. Checks will begin to be mailed in May 2009.

The long term holds the greatest promise of tax provisions from this legislation, which will come in 2009 and 2010.
Here is an explanation from the IRS, Tax Provisions in the American Recovery and Reinvestment Act of 2009, and a full summary of provisions.

Tomorrow, Thursday, February 19, 2009, is the big day in Oklahoma for the switch to digital television (DTV). Despite the federal government’s decision to extend the mandatory switch, Tulsa-area television stations are ready for the conversion and plan to switch their signals from analog to digital tomorrow. Some area stations will broadcast in analog and digital while others with cease the analog signal all together.

If you loose your television signal tomorrow, then you weren’t ready for the switch. What can you do to get ready? Visit www.dtv.gov to find out.

Questions and answers about the digital switch can also be found on area station websites. Find a list of Oklahoma television stations, by station number, here.

Tulsa Municipal Court’s Early Settlement Mediation is recruiting individuals from the community who would like to serve the court system as volunteers to mediate disputes and lawsuits. Also sponsored by the Supreme Court of Oklahoma, this service helps with mediation cases including consumer/merchant, landlord/tenant, real estate, IDEA (Individuals with Disabilities Education Act), neighborhood, family and divorce, and adult guardianship.

If you’re interested in becoming a mediator, you may call (918) 596-7746 to receive an application by mail, or pick one up in person at Early Settlement, 911 Civic Center, Suite 100-L in the Police Courts Building. Completed applications must be received no later than February 18, 2009, and should be addressed to the Mediator Selection Committee.

Training is free for candidates who are selected to become mediators and who make a commitment to volunteer. The 2009 training will be held March 4, 5, and 6; participants must attend all three days of the training.

Source: http://www.cityoftulsa.org/ENews/2009/2-10/Mediators.asp

There is much difficulty in making heads and tails of all of the corporate bailouts that happened at the tail end of the Bush administration and what is in the works in the opening weeks of the Obama administration. Here are a few sites, that will hopefully help to make some sense of it all. These links are also accessible at www.tulsalibrary.org/govdocs/recovery.php

Emergency Economic Stabilization Act of 2008 (H.R. 1424)
This is the original “bailout” bill passed by Congress in October 2008. How is this money being spent? The NY Times is maintaining a running list of funds applied for through the Treasury Department. Access the list here. The U.S. Treasury Department also has a page dedicated to H.R. 1424. with transaction reports, noting who’s received how much, the type of transaction and what the American people are receiving for their investment. Sign up for email alerts to stay current on how the Treasury is distributing $700 billion.

The American Recovery and Reinvestment Act of 2009 (H.R.1)
H.R. 1 is the “stimulus package” passed by the House that is currently on the floor of the Senate where it is receiving additions and revisions. This legislation is currently estimated at $1.1 trillion. And how will this money be spent? The answer to that is still a bit vague. Track the legislation at Thomas.loc.gov and when the bill becomes a law, track the spending at Recovery.gov.

The House and Senate have both voted to extend the date of transition from analog to digital television (DTV), and President Obama is expected to sign a measure moving the transition date from February 17 to June 12, 2009. The change in date is intended to allow households who have not readied for the transition a bit more time to do so.

The federal government was offering a $40.00 coupon to defray the cost of the digital converter box. Funding for this program was exhausted faster than anticipated. However, there is a waiting list for unclaimed/expired coupons, though receiving one will require work on the part of the consumer. To learn more about the coupon waiting list, click here.