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Week Of Special Interest 01/08/20
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By La Voz Staff

IRS 2019 Annual Report

The Internal Revenue Service today released a new annual report highlighting accomplishments across the nation’s tax agency during Fiscal Year 2019.

“Internal Revenue Service Progress Update/Fiscal Year 2019 – Putting Taxpayers First” provides an overview of a variety of operations across taxpayer service, compliance and support areas. The 41-page document is built around the agency’s six strategic goals.

“This report is about more than what happened during the past year,” IRS Commissioner Chuck Rettig wrote in the report’s opening message to taxpayers. “It’s also designed to provide insight into the people serving this country on behalf of the IRS and provide a glimpse into the future.”

AARP advocacy wins big

In a major victory for consumers, the Colorado Public Utilities Commission (PUC) lowered Xcel’s return on equity (ROE) from its current 9.83 percent to 9.3 percent effective January 1, 2020, based on the position of AARP and other interveners in the company’s latest electric rate case.

In May, Xcel originally asked for an ROE of 10.35 percent, which it lowered to 10.20 percent in its rebuttal case filed in October. The company initially had asked that its rate be increased $158 million, which it lowered to $108 million in its rebuttal filing. The Commission’s decision will result in an increase of approximately $41.5 million, 26 percent of the company’s original request.

Xcel has about 1.25 million residential customers in Colorado, many of whom are low income or 50 and older. The average residential electric bill increase should be between $1 and $2 a month or $12 to $24 annually.

AARP also was one of the parties that entered into a settlement with Xcel, which the PUC approved, to mitigate the fire damage around the company’s utility lines. Fires around utility lines have become a major concern, especially in California. The agreement lowered the cost to consumers in protecting those lines.

AARP has more than 670,000 members in Colorado who are 50 and older. AARP Colorado is active in advocating on behalf of its members before the PUC, other regulatory agencies and the General Assembly in the state.

Our Government

White House

Presidential message on National Mentoring Month: Throughout National Mentoring Month, we recognize the selfless individuals who devote their time, energy, and expertise to ensure that future generations of Americans are better prepared to lead their communities, drive our economy, and safeguard our cherished freedoms. Each day, countless Americans impart valuable wisdom to our Nation’s young people. This guidance helps these future leaders transition into adulthood with the confidence and skill sets needed to pursue their American Dream.

Colorado Governor

Governor Jared Polis, and CollegeInvest announced the launch of First Step, a new program that gives every child born or adopted in the State of Colorado, beginning on January 1, a $100 contribution to their CollegeInvest 529 college savings account. The program will be funded and administered by CollegeInvest without the expense of taxpayer dollars and is the result of a bipartisan bill (HB19-1280) Governor Polis signed into law this year. “My administration is committed to investing in education and focused on driving down costs. This new law will incentivize the use of these tools by providing birth or adoptive parents with $100 to kick start their child’s savings,” said Governor Polis.

Denver Mayor

Mayor Michael B. Hancock has received the following seven nominees for Denver County Court Judge from the Denver County Court Judicial Nomination Commission: Arnie Beckman; David Blackett; Andrew Luxen; Michelle Martinez; Richard Ott; Tanya Wheeler; James Zobel; The Mayor will interview the nominees and announce his selection on or before Jan. 16, 2020.





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