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Introduced Version House Concurrent Resolution 48 History

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hcr48 intr
HOUSE CONCURRENT RESOLUTION NO. 48

(By Delegates Williams, Ennis, Longstreth, Manypenny, Moore, Moye, Pethtel, Ross, Susman, Duke, Evans, Hamilton, Rowan, Shott, and Sumner)




Requesting that the Joint Committee on Government and Finance authorize the study of changes that can be made to the Underpayment of Estimated Income Tax Penalty to provide financial relief to our senior citizens, as well as possible education techniques and simplified forms that can be administered to make our senior citizens aware of tax benefits that are currently available.

WHEREAS, Currently, a taxpayer may be charged the Underpayment of Estimated Income Tax Penalty if he or she did not have enough West Virginia state income tax withheld or pay enough estimated tax by certain due dates; and
WHEREAS, If the difference between the total taxes owed to the state and the taxes withheld from income checks is more than $600, then the penalty must be paid; and
WHEREAS, Senior citizens most often fall victim to the Underpayment of Estimated Income Tax Penalty because of income tax due as a result of Social Security income; and
WHEREAS, According to the West Virginia State Tax Department, even an increase in the penalty threshold from $600 to $800 would alleviate more than 1,000 seniors from this undue burden, while only costing the state $160,000; and
WHEREAS, Senior citizens are consistently faced with increasing costs, be it food, gas or healthcare, and never see an increase in benefits; and
WHEREAS, Some seniors are unaware of tax relief that they are currently eligible for; and
WHEREAS, There may be a means to better educate our seniors on the best way for them to access information that may prove to be financially beneficial when filing and paying taxes; and
WHEREAS, The West Virginia State Tax Department has expressed a willingness to work with the Legislature to simplify alternative property tax breaks, including the two new alternatives that will become available in 2009; and
WHEREAS, It is in our state's best interest to exhaust all avenues to ensure that our seniors receive all possible financial relief so that they can experience a moral and financial victory and continue to lead a high quality of life
; and therefore be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby requested to study changes that can be made to the Underpayment of Estimated Income Tax Penalty to provide financial relief to our senior citizens, as well as possible education techniques and simplified forms that can be administered to make our senior citizens aware of tax benefits that are currently available; and, be it
Further Resolved, That the Joint Committee on Government and Finance report to the Regular Session of the Legislature, 2010, on its findings, conclusions and recommendations, together with drafts of any legislation necessary to effectuate its recommendations; and, be it
Further Resolved, That the Legislative expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.
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