All the taxes that typically get taken out besides income tax ( FICA, Medicare, I think there’s another stupid one) won’t come out. Your net pay will go up probably significantly
Yes. Some people will find that option attractive though and would rather have the money now for present expenses. The IRS also has options for payment plans, which while not ideal, still give you time to get things back together.
Being in debt but able to pay bills and live inside a building is a much better situation than trying to start over as a homeless person.
All the taxes that typically get taken out besides income tax ( FICA, Medicare, I think there’s another stupid one) won’t come out. Your net pay will go up probably significantly
But they’re only deferred, so you’re getting more money now but going to have a pretty big bill at the end of the year.
You’re right- some places are calling them suspended, some are calling them “cuts” and then later in the article calling them deferrals.
Fake Fox News suggested he might campaign on cancelling them which would be great.
Yes. Some people will find that option attractive though and would rather have the money now for present expenses. The IRS also has options for payment plans, which while not ideal, still give you time to get things back together.
Being in debt but able to pay bills and live inside a building is a much better situation than trying to start over as a homeless person.
That’s true. I just want to be able to opt out because I highly doubt even a solidly Republican Congress will approve of actually canceling the taxes.