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re: Trump's EO to defer payroll tax
Posted on 8/8/20 at 6:44 pm to go ta hell ole miss
Posted on 8/8/20 at 6:44 pm to go ta hell ole miss
quote:
It is a deferment
So are businesses just going to hold the amount in escrow, or will individuals need to be aware of the I coming tax liability?
It seems like this is creating a situation where people who aren't paying attention could be blindsided by a major tax liability
2
Posted on 8/8/20 at 6:46 pm to OleVaught14
(no message)
This post was edited on 4/11/23 at 2:47 pm
Posted on 8/8/20 at 6:59 pm to OleVaught14
quote:
So are businesses just going to hold the amount in escrow, or will individuals need to be aware of the I coming tax liability?
Not legally they won’t, and that would have no impact on getting money to people to spend. Individuals need to be aware of this. I am not sure how it’s blindsiding, but I suppose that could be suggested. It happened previously under the stimulus package President Bush sent out. It was really just an early refund.
As others have suggested, in this environment anyone that would not agree to make them permanent will be committing political suicide. Elections would have already passed in December, though.
This post was edited on 8/8/20 at 7:02 pm
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