Friday, January 4, 2013
Instead of 26.5-percent reduction for physicians, hospitals will see federal payments lowered.
- GOVERNMENT
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Friday, January 4
By Andrew Kitchenman, NJ Spotlight In enacting the complex web of legislation that averted going over the so-called fiscal cliff, Congress also avoided a 26.5-percent cut in Medicare reimbursement rates to doctors. But the agreement will instead lead to reduced federal payments to hospitals, leading one hospital advocate to describe the measure as “robbing Peter to pay Paul.” While the range of tax and spending items affected by the fiscal-cliff negotiations was unusual, the need to address Medicare payments to doctors has become a nearly annual rite in Washington, leaving doctors in New Jersey fearful of steep reductions every winter. The Medicare payment cut is the result of a 1997 law that was intended to limit the entitlement program’s…
Friday, December 28, 2012
The financial deadline looms in Washington, with no deal yet made. Check this primer, and share your questions and thoughts.
With Christmas 2012 over, one reality check is that the looming "fiscal cliff" deadline is just a few days away. On Dec. 31, tax cuts dating to the George W. Bush presidential term are scheduled to expire, and President Obama and congressional leaders have not reached a compromise. Of course, that means tax bills would increase for many middle- and upper-class taxpayers. And that means paycheck withholding for many workers would change, leaving them with less take-home pay in the new year. Apparently, though, there will be no immediate change in withholding tables, while the situation is unresolved. According to John Tuzynski, the IRS’ chief of employment tax policy, employers should continue to use 2012 withholding tables and personal …
Monday, December 17, 2012
Rider University’s Dr. Maury Randall, an expert on the current economic climate, discusses the fiscal cliff and its implications.
- GOVERNMENT
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Monday, December 17, 2012
Editor's Note: The following is a news release issued by Rider University. As the new year approaches, the combination of federal tax hikes and spending cuts scheduled to occur at the end of the year has the government trying to avert the so-called “fiscal cliff.” What exactly is at stake? And what kind of impact will the fiscal cliff have on the U.S. economy and your own personal finances? Rider University’s Dr. Maury Randall, a sought-after expert on the current economic climate, discusses the fiscal cliff and its implications. What is the fiscal cliff? Within the last 10 years, there were a number of tax benefits that had been passed and were scheduled to expire two years ago. In 2010, politicians felt pressure to delay the expiration …
Ed ward H. Wiznitzer
10:45 am on Saturday, December 29, 2012
While this article is correct as far as it goes, it omits that wage earners should expect an immediate 2% cut in take-home pay as soon as their first paycheck arrives in 2013. In addition to the current income tax rates expiring at midnight of the New Year, so does the current reduced Social Security tax of 4.2%. It reverts to the previous level of 6.2%. Most employers and payroll services will … more ›