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Payroll tax deferral will be a mess

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  • #31
    Originally posted by Petunia 100 View Post

    That's so nice. However, this is something which only Congress can do.
    He would have to get it passed as part of some sort of stimulus or other package.

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    • #32
      I would think the easiest thing is to forgive the deferral. I am still sure it'll be terrible come January 15th. OMG. PEOPLE are going to freak out when they pay double SS. Since I do taxes I can guarantee that people are going to be pissed.
      LivingAlmostLarge Blog

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      • #33
        Originally posted by LivingAlmostLarge View Post
        I would think the easiest thing is to forgive the deferral.
        "Easy" is a relative term. It needs Congressional approval so it will partly depend on the outcome of the election. If the Democrats gain control, I think the odds of the tax being forgiven are zero. If the Republicans maintain control, the odds are slim as there wasn't even much support for Trump's move within his own party.
        Steve

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        • #34
          Originally posted by ~bs View Post

          He would have to get it passed as part of some sort of stimulus or other package.
          Right. Which is highly unlikely to happen, as this idea has very little support, even from his own party.

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