Current Events > Trumps payroll tax deferral action starts next week and its completely worthless

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Poop2 08/29/20 11:47:10 PM #1:	Companies can stop withholding employees' payroll taxes starting September 1, although *workers will have to pay the taxes by the end of April 2021.* Although Trump's action was signed weeks earlier, the guidance was delayed as the White House looked into whether it was possible to waive workers' taxes entirely rather than deferring them to next year. The answer from the Internal Revenue Service was no, employees are still on the hook for paying their taxes next year. "Many of our members consider it unfair to employees to make a decision that would force a big tax bill on them next year," https://www.cnn.com/2020/08/29/economy/trump-treasury-new-guidance-tax-holiday/index.html <cite>Poop2 posted [p:943988066] in Trumps pay... [t:78942303]...</cite> <quote>Companies can stop withholding employees' payroll taxes starting September 1, although workers will have to pay the taxes by the end of April 2021. Although Trump's action was signed weeks earlier, the guidance was delayed as the White House looked into whether it was possible to waive workers' taxes entirely rather than deferring them to next year. The answer from the Internal Revenue Service was no, employees are still on the hook for paying their taxes next year. "Many of our members consider it unfair to employees to make a decision that would force a big tax bill on them next year," https://www.cnn.com/2020/08/29/economy/trump-treasury-new-guidance-tax-holiday/index.html </quote> ... Copied to Clipboard!
Onepunch-Man 08/29/20 11:58:43 PM #2:	My company already said they aren't doing it so meh --- http://www.youtube.com/watch?v=AADp5ujz81Y Ok <cite>Onepunch-Man posted [p:943988409] in Trumps pay... [t:78942303]...</cite> <quote>My company already said they aren't doing it so meh </quote> ... Copied to Clipboard!
Hexenherz 08/29/20 11:59:18 PM #3:	All of his shit was worthless. --- FFXIV: Lucius Hexenseele (Brynhildr) \| RS3: UltimaSuende . 99 WC/Fish/Cook/Fletch/Div/Mining/Smithing/Thieving/Crafting/RC https://letterboxd.com/BMovieBro/ <cite>Hexenherz posted [p:943988423] in Trumps pay... [t:78942303]...</cite> <quote>All of his shit was worthless. </quote> ... Copied to Clipboard!
GIT-GUD 08/29/20 11:59:37 PM #4:	can someone break this down to layman terms? <cite>GIT-GUD posted [p:943988433] in Trumps pay... [t:78942303]...</cite> <quote>can someone break this down to layman terms? </quote> ... Copied to Clipboard!
MelbuFrahma4 08/30/20 12:01:06 AM #5:	GIT-GUD posted... can someone break this down to layman terms? Trump passed something claiming people were gonna get extra money. But people aint getting shit. --- "We'll never see Day-Lewis and Kubrick, or Kurosawa and Eastwood, but we have seen Bale and Nolan, a cinematic dream pairing come to life!" <cite>MelbuFrahma4 posted [p:943988469] in Trumps pay... [t:78942303]...</cite> <quote>GIT-GUD posted... </cite> <quote>can someone break this down to layman terms?</quote> Trump passed something claiming people were gonna get extra money. But people aint getting shit. </quote> ... Copied to Clipboard!
SolidShadow3 08/30/20 12:02:31 AM #6:	MelbuFrahma4 posted... Trump passed something claiming people were gonna get extra money. But people aint getting shit. I don't like trump, but wouldn't this be more up the IRS ally as far as blames go? --- By Odin's beard! <cite>SolidShadow3 posted [p:943988505] in Trumps pay... [t:78942303]...</cite> <quote>MelbuFrahma4 posted... </cite> <quote>Trump passed something claiming people were gonna get extra money. But people aint getting shit.</quote>I don't like trump, but wouldn't this be more up the IRS ally as far as blames go? </quote> ... Copied to Clipboard!
Unsugarized_Foo 08/30/20 12:02:31 AM #7:	GIT-GUD posted... can someone break this down to layman terms? You can choose to pay your income taxes later than usual This really only helps super financially savvy people that are probably avoiding taxes anyway --- "All I have is my balls and my word, and I don't break them for anyone!"-Tony Montana <cite>Unsugarized_Foo posted [p:943988506] in Trumps pay... [t:78942303]...</cite> <quote>GIT-GUD posted... </cite> <quote>can someone break this down to layman terms?</quote> You can choose to pay your income taxes later than usual This really only helps super financially savvy people that are probably avoiding taxes anyway </quote> ... Copied to Clipboard!
Poop2 08/30/20 12:03:45 AM #8:	Onepunch-Man posted... My company already said they aren't doing it so meh its actually better that way the whole idea was idiotic <cite>Poop2 posted [p:943988535] in Trumps pay... [t:78942303]...</cite> <quote>Onepunch-Man posted... </cite> <quote>My company already said they aren't doing it so meh</quote>its actually better that way the whole idea was idiotic </quote> ... Copied to Clipboard!
Hexenherz 08/30/20 12:05:13 AM #9:	GIT-GUD posted... can someone break this down to layman terms? Trump wrote a memorandum (not an executive order) that was advertised as "you won't have to pay federal income tax (for regular jobs) for the rest of the year!" In reality, the president doesn't have that authority. Because it's not sure if Congress would even fully forgive those taxes or not, a ton of companies are erring on the side of caution and continuing to withhold the income taxes. Imagine if they didn't withhold the taxes now, then at the end of the year it's like "oh shit you gotta pay them", a ton of people would end up with no or very little paycheck. --- FFXIV: Lucius Hexenseele (Brynhildr) \| RS3: UltimaSuende . 99 WC/Fish/Cook/Fletch/Div/Mining/Smithing/Thieving/Crafting/RC https://letterboxd.com/BMovieBro/ <cite>Hexenherz posted [p:943988582] in Trumps pay... [t:78942303]...</cite> <quote>GIT-GUD posted... </cite> <quote>can someone break this down to layman terms?</quote>Trump wrote a memorandum (not an executive order) that was advertised as "you won't have to pay federal income tax (for regular jobs) for the rest of the year!" In reality, the president doesn't have that authority. Because it's not sure if Congress would even fully forgive those taxes or not, a ton of companies are erring on the side of caution and continuing to withhold the income taxes. Imagine if they didn't withhold the taxes now, then at the end of the year it's like "oh shit you gotta pay them", a ton of people would end up with no or very little paycheck. </quote> ... Copied to Clipboard!
Questionmarktarius 08/30/20 12:06:41 AM #10:	FICA needs to be ended anyway, and just rolled into general revenue. <cite>Questionmarktarius posted [p:943988617] in Trumps pay... [t:78942303]...</cite> <quote>FICA needs to be ended anyway, and just rolled into general revenue. </quote> ... Copied to Clipboard!
Master_Bass 08/30/20 12:07:07 AM #11:	I really hope we don't do it. I'd rather pay the taxes now then get a big bill come tax time. I work for the federal government so it will be interesting to see if they listen to Trump's order or not. I really hope they don't, though. --- Many Bothans died to bring you this post. <cite>Master_Bass posted [p:943988632] in Trumps pay... [t:78942303]...</cite> <quote>I really hope we don't do it. I'd rather pay the taxes now then get a big bill come tax time. I work for the federal government so it will be interesting to see if they listen to Trump's order or not. I really hope they don't, though. </quote> ... Copied to Clipboard!
Questionmarktarius 08/30/20 12:08:11 AM #12:	FICA and income tax are entirely different things, so it all suddenly coming due in April 2021 makes no sense <cite>Questionmarktarius posted [p:943988660] in Trumps pay... [t:78942303]...</cite> <quote>FICA and income tax are entirely different things, so it all suddenly coming due in April 2021 makes no sense </quote> ... Copied to Clipboard!
littlebro07 08/30/20 12:11:02 AM #13:	If my company does it and doesn't give me the option to be taxed normally I'm just gonna set it all into a separate savings account and pay it back in April. Such a dumb fucking idea but what more can you expect from a Republican president --- https://i.imgtc.com/MGGa6Os.gif <cite>littlebro07 posted [p:943988733] in Trumps pay... [t:78942303]...</cite> <quote>If my company does it and doesn't give me the option to be taxed normally I'm just gonna set it all into a separate savings account and pay it back in April. Such a dumb fucking idea but what more can you expect from a Republican president </quote> ... Copied to Clipboard!
UnholyMudcrab 08/30/20 12:15:12 AM #14:	It's not worthless to Trump, since his aim is to gut Social Security --- https://imgur.com/VeNBg https://imgur.com/gd5jC8q https://imgur.com/PKIy7 https://imgur.com/3p29JqP <cite>UnholyMudcrab posted [p:943988820] in Trumps pay... [t:78942303]...</cite> <quote>It's not worthless to Trump, since his aim is to gut Social Security</quote> ... Copied to Clipboard!
Hexenherz 08/30/20 12:17:13 AM #15:	UnholyMudcrab posted... It's not worthless to Trump, since his aim is to gut Social Security This serves his more immediate goal of tricking people into thinking he's getting them more money so he gets more votes, because they don't take a minute to research what's going on first. --- FFXIV: Lucius Hexenseele (Brynhildr) \| RS3: UltimaSuende . 99 WC/Fish/Cook/Fletch/Div/Mining/Smithing/Thieving/Crafting/RC https://letterboxd.com/BMovieBro/ <cite>Hexenherz posted [p:943988874] in Trumps pay... [t:78942303]...</cite> <quote>UnholyMudcrab posted... </cite> <quote>It's not worthless to Trump, since his aim is to gut Social Security</quote>This serves his more immediate goal of tricking people into thinking he's getting them more money so he gets more votes, because they don't take a minute to research what's going on first. </quote> ... Copied to Clipboard!
Questionmarktarius 08/30/20 12:22:05 AM #16:	Hexenherz posted... This serves his more immediate goal of tricking people into thinking he's getting them more money so he gets more votes, because they don't take a minute to research what's going on first. Payroll tax starts at $0.01. The absolute bottom of the income pile are killed by FICA long before income tax. <cite>Questionmarktarius posted [p:943989000] in Trumps pay... [t:78942303]...</cite> <quote>Hexenherz posted... </cite> <quote>This serves his more immediate goal of tricking people into thinking he's getting them more money so he gets more votes, because they don't take a minute to research what's going on first.</quote>Payroll tax starts at $0.01. The absolute bottom of the income pile are killed by FICA long before income tax. </quote> ... Copied to Clipboard!
Balrog0 08/30/20 12:25:30 AM #17:	SolidShadow3 posted... I don't like trump, but wouldn't this be more up the IRS ally as far as blames go? Trump runs the irs --- But to you who are listening I say: Love your enemies, do good to those who hate you, bless those who curse you, pray for those who mistreat you. <cite>Balrog0 posted [p:943989091] in Trumps pay... [t:78942303]...</cite> <quote>SolidShadow3 posted... </cite> <quote>I don't like trump, but wouldn't this be more up the IRS ally as far as blames go?</quote> Trump runs the irs </quote> ... Copied to Clipboard!
MutantJohn 08/30/20 12:27:24 AM #18:	Why do agencies think deferrals are a valid way to handle the upcoming financial crisis? At best, it only delays the inevitable --- "Oh, my mother; oh, my friends, ask the angels, will I ever see heaven again?" - Laura Marling <cite>MutantJohn posted [p:943989138] in Trumps pay... [t:78942303]...</cite> <quote>Why do agencies think deferrals are a valid way to handle the upcoming financial crisis? At best, it only delays the inevitable</quote> ... Copied to Clipboard!
Questionmarktarius 08/30/20 12:28:46 AM #19:	Balrog0 posted... Trump runs the irs 'rog found the thread! Tell me where I'm wrong in #12 and #16. Possibly also #10. <cite>Questionmarktarius posted [p:943989171] in Trumps pay... [t:78942303]...</cite> <quote>Balrog0 posted... </cite> <quote>Trump runs the irs</quote>'rog found the thread! Tell me where I'm wrong in #12 and #16. Possibly also #10. </quote> ... Copied to Clipboard!
Hexenherz 08/30/20 12:35:42 AM #20:	MutantJohn posted... Why do agencies think deferrals are a valid way to handle the upcoming financial crisis? At best, it only delays the inevitable It's literally just Trump --- FFXIV: Lucius Hexenseele (Brynhildr) \| RS3: UltimaSuende . 99 WC/Fish/Cook/Fletch/Div/Mining/Smithing/Thieving/Crafting/RC https://letterboxd.com/BMovieBro/ <cite>Hexenherz posted [p:943989366] in Trumps pay... [t:78942303]...</cite> <quote>MutantJohn posted... </cite> <quote>Why do agencies think deferrals are a valid way to handle the upcoming financial crisis? At best, it only delays the inevitable</quote>It's literally just Trump </quote> ... Copied to Clipboard!
Poop2 08/30/20 1:32:36 AM #21:	Hexenherz posted... It's literally just Trump <cite>Poop2 posted [p:943990776] in Trumps pay... [t:78942303]...</cite> <quote>Hexenherz posted... </cite> <quote>It's literally just Trump</quote> </quote> ... Copied to Clipboard!
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Current Events > Trumps payroll tax deferral action starts next week and its completely worthless (+) Yeah! (+)

Current Events > Trumps payroll tax deferral action starts next week and its completely worthless