That’s the thing, when he gets elected, the forgiveness on a portion of FICA still isn’t a certainty. So for employers who opt into the deferral, they’re gambling on potentially double-hitting employees pay in 2021 or eating all of it. Both seem like bad options in my opinion, which is why I didn’t take the deferral. We pay our teams really well and actually gave raises during this covid nonsense. I left payroll as is. Or course, this may not be the best action for a business in a different industry, however. We are in software design/dev.
My human resources department sent us an email, notifying us of the payroll tax deferment. They announced that it was uncertain if the taxes would be due at the end of the year and they were going to continue taking out the payroll taxes for this reason. So, I didn't get a tax cut, but may get one at the end of the year. I think it depends on who wins the election.
Yeah, it's such a poorly written EO. The party where employers have to go after their employees for it doesn't even make sense. What if an employer opts in and defers those taxes, but has an employee quit on 12-31? Does the company have to pay back for that employee, if it doesn't get forgiven? Too many questions. It's not good for damn near anyone, every maybe those working for themselves, or those getting money back at tax time. Poorly written EO. If Congress would do their job, he wouldn't have to put out an EO, however.
My lefty friends are fucking REEEEEEE I'M GOING TO HAVE TO PAY THIS BACK NEXT YEAR. & I'm like, not if Trump gets re-elected.
That’s the thing, when he gets elected, the forgiveness on a portion of FICA still isn’t a certainty. So for employers who opt into the deferral, they’re gambling on potentially double-hitting employees pay in 2021 or eating all of it. Both seem like bad options in my opinion, which is why I didn’t take the deferral. We pay our teams really well and actually gave raises during this covid nonsense. I left payroll as is. Or course, this may not be the best action for a business in a different industry, however. We are in software design/dev.
My human resources department sent us an email, notifying us of the payroll tax deferment. They announced that it was uncertain if the taxes would be due at the end of the year and they were going to continue taking out the payroll taxes for this reason. So, I didn't get a tax cut, but may get one at the end of the year. I think it depends on who wins the election.
Yeah, it's such a poorly written EO. The party where employers have to go after their employees for it doesn't even make sense. What if an employer opts in and defers those taxes, but has an employee quit on 12-31? Does the company have to pay back for that employee, if it doesn't get forgiven? Too many questions. It's not good for damn near anyone, every maybe those working for themselves, or those getting money back at tax time. Poorly written EO. If Congress would do their job, he wouldn't have to put out an EO, however.
My work is taking the cucked as fuck route and still withholding the money. "For our benefit."
Fucking grifters.
My employer is still withholding federal income tax.
Sounds like some fuckery I would be pissed about if the other side did it.
The Dims have never once voted to not take more of your money.