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S. C. R. No. 10 As Introduced
As Introduced
| 128th General Assembly | | Regular Session | | 2009-2010 |
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Cosponsors:
Senators Hughes, Patton, Buehrer, Miller, D., Carey, Goodman, Cates, Wilson, Wagoner
A CONCURRENT RESOLUTION
| To memorialize the Congress of the United States, the
Secretary of the Treasury, and the Internal
Revenue Service to withdraw application of the new
federal income tax withholding schedules to
pensioners.
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BE IT RESOLVED BY THE SENATE OF THE STATE OF OHIO
(THE HOUSE OF REPRESENTATIVES CONCURRING):
| WHEREAS, The American Recovery and Reinvestment Act of 2009
(Public Law 111-5, the federal "stimulus" bill) enacted the Making
Work Pay Tax Credit, a credit against federal income tax computed
on the basis of earned income; and |
| WHEREAS, The Internal Revenue Service issued new tax
withholding schedules incorporating the credit by reducing
periodic tax withholding; and |
| WHEREAS, The new withholding schedules apply not only to
earnings but also to certain periodic pension payments; and |
| WHEREAS, The Internal Revenue Service acknowledges that the
new schedules will cause many pensioners with no earned income to
have insufficient tax withheld from pension payments to cover
their annual tax liabilities; and |
| WHEREAS, Many pensioners therefore are forced to adjust tax
withholding to avoid under-withholding from their pension
payments, which entails the filing of new W-4P forms; and |
| WHEREAS, Failure to file new W-4P forms will cause financial
hardship for pensioners by burdening them with unanticipated
end-of-year federal income tax liabilities; now therefore be it |
| RESOLVED, That the Secretary of the Treasury and the Internal
Revenue Service are hereby encouraged to immediately withdraw
application of the new tax withholding schedules to pension
payments and, failing that, that the Congress of the United States
enact such laws or take such actions as are necessary to cause the
expeditious withdrawal of such schedules insofar as they apply to
pensioners; and be it further |
| RESOLVED, That within five days after the adoption of this
resolution, the Clerk of the Senate shall send a
certified copy
to the United States Department of the Treasury, to
the
Commissioner of Internal Revenue, to each member of this
state's
delegation to the United States House of Representatives
and
United States Senate, and to the news media. |
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