Wednesday, February 20, 2013



Wednesday, Feb. 20, 2012
Lyn Peters, DFI Director of Communications.
Financial Education & Outreach
PH 360-902-8731 C 360-349-8501,


Washington joins national campaign aimed to help residents “Build Wealth, Not Debt”

Olympia – The Washington State Department of Financial Institutions (DFI) is working with the Washington Jump$tart Coalition and many other state agencies, non-profit organizations and financial institutions to promote Washington Saves Week as part of the seventh annual national America Saves Week campaign.

“In a time when we all are striving to make our dollars do more and go farther, it’s more important than ever to ensure we are setting aside funds for tomorrow,” DFI Director Scott Jarvis said. “Making savings automatic makes sure it happens, makes it easier to plan around and makes it easier to continue. Even if you have to start small, with five or 10 dollars, that small start can make a big difference later.”  

America Saves is a national campaign involving more than 1,000 non-profit, government, and corporate groups that encourages individuals and families to save money and build personal wealth. Organizations throughout Washington are coordinating Saves Week activities aimed at offering Washington residents savings resources and education.

Understanding that having emergency savings, retirement funds and being able to manage one’s debt are crucial to Washington residents’ personal financial security, Governor Jay Inslee has proclaimed Feb. 25-March 2, 2013 Washington Saves Week.

The campaign theme “Set a Goal. Make a Plan. Save Automatically.” is aimed at reminding consumers to utilize the automatic payroll deduction options at their place of employment to begin building an emergency fund, create a retirement fund or develop a targeted savings fund for their future.

We invite all Washington residents to participate in Saves Week, Feb. 25- March 2, 2013 by visiting and enrolling to be an American Saver. Submit your Washington Saves Week event or find an event in your area at

If your organization wants to support Washington Saves and promote the campaign, the Saves Week organizers offer a variety of promotional materials at .

A few ways your organization can get involved include:

  • Distribute America Saves fliers and brochures and display America Saves posters
  • Set up display/area for reading/research and Web access to saving, debt reduction and wealth building
  • Host motivational workshops and topic seminars for patrons and employees
  • Encourage enrollment as a Saver
  • Place America Saves Week article(s) in employees newsletter and patron news
  • Enclose an America Saves flier as a payroll stuffer
  • Place a link to America Saves/Washington Saves on Web site and internal network

To learn more about the campaign and register, visit the national Web site or Washington Saves Week at

If you would like a presenter to come to your site, DFI and/or Washington Jump$tart member organizations can assist with finding a speaker. Send a request to Lyn Peters at DFI (, the Washington Jump$tart Coalition ( or contact Amy O’Donnell (

Together we can show our support and commitment to helping our community members “Start Small, Think Big” and “Build Wealth, Not Debt.”


About DFI ■ 360-902-8700 ■ 877-RINGDFI (746-4334)
The Washington State Department of Financial Institutions regulates a variety of financial service providers such as banks, credit unions, mortgage brokers, consumer loan companies, payday lenders and securities brokers and dealers. The department also works to improve financial education throughout Washington through its outreach programs and online clearinghouse In addition to posting information about licensees and administrative actions, DFI uses the Web and social media to provide financial education information: n n n n

About America Saves www.americasaves.orginformation@americasaves.org202-387-6121
America Saves is a nationwide campaign in which a broad coalition of nonprofit, corporate, and government groups helps individuals and families save and build wealth. Through information, advice, and encouragement, we assist those who wish to pay down debt, build an emergency fund, save for a home, save for an education, or save for retirement.

About Jump$tart Washington
Jump$tart Washington is a nonprofit coalition created to promote the need for financial education in Washington State. In 2010, we provided teacher training seminars, special events for students and succeeded in reaching thousands of consumers throughout the state. Our members include individuals, public and private organizations, educators, and non-profit associations – each passionate about making change and advancing our goal to:
  • Raise awareness for the need and importance of personal financial literacy
  • Increase the use of financial education programs in school and homes
  • Grow support for the coalition

Jump$tart Washington Vision Statement
Financial empowerment for Washington residents.

Jump$tart Washington Mission Statement
Jump$tart Washington promotes the development of personal finance skills of Washington residents, with emphasis on education for K-college youth.

Thursday, January 3, 2013

IRS UPDATE: Payroll Tax Rate Change

Dear Business Organization:

As you know, Congress passed and the President has signed into law some tax law changes earlier this week. The payroll tax rates were not affected by this week’s legislation, which means the temporary two-percentage-point payroll tax cut in effect for 2011 and 2012 has now expired.

I wanted to be sure and get the information below to you as soon as possible.

Below is the news release which was posted today to Within the release is a link to Notice 1036, which contains the percentage method income tax withholding tables, the new Social Security withholding rate, and related information that most employers need to implement these changes. IRS is asking employers to adjust their payroll systems as soon as possible, but not later than Feb. 15, 2013.

Please make sure your members are aware of the new law and the Notice1036, which contains the information employers will need to implement the new rates.

Please continue to monitor for the latest updates. As new information becomes available, I will also send it to you directly.

Kari Gilje
Senior Stakeholder Liaison
IRS Communications & Stakeholder Outreach
Ph 206.220.5469

IRS Provides Updated Withholding Guidance for 2013

The Internal Revenue Service today released updated income-tax withholding tables for 2013 reflecting this week’s changes by Congress. 

The updated tables, issued today after President Obama signed the changes into law, show the new rates in effect for 2013 and supersede the tables issued on December 31, 2012. The newly revised version of Notice1036 contains the percentage method income-tax withholding tables and related information that employers need to implement these changes.

In addition, employers should also begin withholding Social Security tax at the rate of 6.2 percent of wages paid following the expiration of the temporary two-percentage-point payroll tax cut in effect for 2011 and 2012. The payroll tax rates were not affected by this week’s legislation.

Employers should start using the revised withholding tables and correct the amount of Social Security tax withheld as soon as possible in 2013, but not later than Feb. 15, 2013. For any Social Security tax under-withheld before that date, employers should make the appropriate adjustment in workers’ pay as soon as possible, but not later than March 31, 2013.

IRS Statement on Jan. 1 Tax Legislation Passed by Congress

The IRS is currently reviewing the details of this week's tax legislation and assessing what impact it will have on this year's filing season. The IRS will soon make available additional information on when taxpayers can start filing 2012 tax returns.  On Jan. 3, 2013, the IRS issued IR-2013-1 providing updated withholding guidance.