[–] 25096880? 8 points -3 points 5 points (+5|-8) ago
Taxes only though. Months ago people were spreading false rumors it was going to be all out loan, debt and mortgage forgiveness. I’m sure the IRS isn’t pleased with this announcement as normies begin to realize the IRS is now viewed as less mandatory than they were before this announcement.
[–] 25099507? 0 points 1 point 1 point (+1|-0) ago
the IRS has been forgiving back tax debt for months. I'm a lawyer. I have clients this has happened to. I was shocked - to put it mildly. Didn't think it would actually happen. Right now, it looks like at least some debt is being forgiven on taxes that were due for the years 2017 and earlier. . From my understanding on the Mortgage/loan forgiveness issue.. there are some who believe there will be a return of "overcharged" interest on mortgages, loans and credit cards. Time will tell how far this goes. I certainly don't know. But, with what I've seen lately, it just might be better than I thought.
[–] 25096743? 4 points -2 points 2 points (+2|-4) ago
The memo says ‘ The deferral shall be made available with respect to any employee the amount of whose wages or compensation, as applicable, payable during any bi-weekly pay period generally is less than $4,000, calculated on a pre-tax basis, or the equivalent amount with respect to other pay periods.’
If you make $2k/week or more you’re not getting shit. Get ready to strap more lazy fucks on your backs middle classers.
I want off this ride now.
[–] 25170128? ago (edited ago)
The payroll tax is the income tax that you owe the govt that is withheld by your employer who remits this to the govt on your behalf. So basically you pay no tax on your income. Does not affect Social Security. Self employed people don't participate in payroll tax, they pay in a different way.