1.3 million active-duty troops will have payroll taxes deferred, can't opt out - Business Insider

to enact a payroll tax holiday that temporarily suspends the collection of a 6.2% Social Security levy from workers' paychecks through the end of the year. It affects people earning below $104,000 annually.

Trump has called on Congress to absolve the payments, but that's unlikely since lawmakers in both parties oppose pulling money going into Social Security, an increasingly cash-starved safety net program. The directive has sparked substantial criticism from scores of business groupsRecent guidance from the IRS said the money has to be repaid by April 30.

Democrats fiercely criticized the measure. Rep. Don Beyer, vice chair of the congressional Joint Economic Committee, attacked the policy as a politically motivated decision that would set back troops' pocketbooks. "The President's order will give the illusion of pay increases until after the election, and then require service members to pay the money back with double tax withholding," Beyer said in a statement on Tuesday. "This is a disgraceful way to treat those who serve and sacrifice to keep us safe, and Trump's trickery is obviously designed to help his campaign."Sign up now for Insider Today for regular insights and analysis from Henry Blodget & David Plotz.

i love the military too but pls don’t leave out that government workers have to deal w/ this too. it’s bull shyt

newyorktough NewYork newyorkers NewYorkCity we must seize trump tower and use it to house the homeless made so by trumpsdepression TrumpsAmericanCarnage must end. Trump intentionally let the TrumpVirusDeathToll193K spread in the cities believing democrats would be killed

Wow... our troops will have to pay hundreds and thousands of dollars next year in taxes. However, this seems like a backdoor way of Trump ending Medicare and Social Security.

Same with Gov employees like IRS. No way to opt out.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Inside the secret club that helps determine which healthcare startups blow up - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. bielinko
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Fortnite active users on iPhone down 60%, Epic Games says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Sarcos Robotics raised $40 million for Guardian XO exoskeleton - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

SUCCESS INSIDER: 6-figure side hustles, resume templates, Y combinator - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Y’all really post some wild shit Earn with the THE WORLD FOREX EXPERT TRADERS the best binary and Forex platform , i made $10, 000 within a week with just $1500 investment I never believed it's real till I gave it a try Contact the admin Mr Abrantes Rene via Twitter 👇👇👇 abrantesrene
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

The 15 best value colleges of 2021 are great for business students - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. CEO Adam Brimo talks at ASX conference, all about OpenLearning=ASX$OLL Motley fool article on OpenLearning=ASX$OLL🚀🚀 OpenLearning=ASX$OLL Half year results🚀🚀🚀
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »