Federal workers will have taxes deferred under Trump’s order, sparking outcry

[PaulinVA]

No. It isn’t. Predates prevent that.

Sounds complicated. Probably need an agency to manage that.

Get a Tax Refund in Advance on Purchases of Basic Necessities

The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. Learn more .

 

[JonNC]

The abandonment of fiscal conservatism is one of the greatest losses of the current Republican Party. The idea of not having any income tax is something I would have never thought I would see a Republican president pull. Yet this one wants to stop tax withholding? This is like government by Ponzi con artists.

Social security has always been a Ponzi scheme. And the government hasn’t put money in the trust fund since the late 60’s.
FICA and income taxes have been mixed for decades.
This deferment has no impact of SS or Medicare.

 

[JonNC]

Sounds complicated. Probably need an agency to manage that.

We’ll keep 10% of the IRS to handle it.

 

[sallybutler]

Except the tax was never discontinued. It was just an Executive Order telling the IRS not to punish employers that didn’t collect it and forward it to the IRS in their (pick a payment schedule) tax payments .

 

[Xystus]

Sounds complicated.

Have you seen the current labyrinth we call US tax code?

 

[pnewton]

I found out today (after asking) that we will be ignoring this order, thank goodness.

 

[Ridgerunner]

LOL. The savings interest rate in Trump’s America would yield a few cents a month at the most.

No. 4% plus dividend-paying stocks are everywhere. Quite safe ones, too.

I don’t see how anybody is hurt by this. They can always pay extra tax if they want by reducing their exemptions.

 

[puer.dei]

I found out today (after asking) that we will be ignoring this order, thank goodness.

My employer’s still looking into it. I hope they do the same.

 

[TMC]

I found out today (after asking) that we will be ignoring this order, thank goodness.

Nearly everyone is ignoring it, other than federal workers. From what I have seen, the major payroll processors are not doing it, which means most small businesses cannot. Maybe they will if the IRS ever gets its guidance straightened out, who knows. More likely it just won’t ever happen, because the IRS has clarified that it is optional, and most employers will simply opt not to do it.

 

[puer.dei]

Nearly everyone is ignoring it, other than federal workers.

Just found out my company won’t be doing it. Hallelujah!