Payroll Tax Deferral Begins Today

"ttyymmnn" (ttyymmnn) 09/01/2020 at 11:09 • Filed to: None

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If your company is participating.

Rather than send out another check, Trump instead issued a payroll tax deferral. That means that the money you usually pay into Social Security won’t be coming out of your check through the election end of the year.

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Of course, this is a deferral, not a holiday, so the money you don’t pay now will have to be paid next year.

I like cars: Jim Spanfeller is one ugly motherfucker > ttyymmnn 09/01/2020 at 11:17

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Still w ould have been neato if they’d have done anything even remotely close to what most other developed countries did and are continuing to do.

Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) > ttyymmnn 09/01/2020 at 11:17

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Between the stimulus checks and this w e’re all gonna get fucked sooooooo hard on taxes next year. (I don’t think my company is going to stop deductions)

I like cars: Jim Spanfeller is one ugly motherfucker > Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) 09/01/2020 at 11:21

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What are they doing with the stimulus checks? Are they calling that taxable income now?

ttyymmnn > I like cars: Jim Spanfeller is one ugly motherfucker 09/01/2020 at 11:22

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You mean all those Socialists?

ttyymmnn > Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) 09/01/2020 at 11:23

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We owed last year for the first time ever because of the changes to the tax law. I’m sure there were plenty of loopholes for the people who wrote the bill.

Stef Schrader > I like cars: Jim Spanfeller is one ugly motherfucker 09/01/2020 at 11:25

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Seriously. I’m so exhausted by this place doing every possible thing wrong despite having so long to prepare and so many other countries’ experiences with fighting this to pull from. I’m friggin’ done.

Future next gen S2000 owner > ttyymmnn 09/01/2020 at 11:28

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I’m so pissed that they changed the tables. Had to pay in as well. Got a “tax cut” though! Yeah for morons!

I’m sure we’ll pay in again this year because we didn’t send extra money to the IRS with every paycheck. 

jminer > ttyymmnn 09/01/2020 at 11:31

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My company isn’t withholding, and we’ve got 50k employees.

I don’t see the point in this especially since a lot of the folks that need this the most aren’t getting paid so they won’t get even the small benefit from this.

Seriously for 22 of the last 23 weeks more than 1 million people have filed a new unemployment claim and nearly 30 million people are on unemployment assistance of some kind.

WilliamsSW > ttyymmnn 09/01/2020 at 11:33

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Fuck deferrals. Seriously. Fuck them.

They provide no benefit to people who aren’t living check to check, and they trick people who do live paycheck to paycheck into thinking they’re in better shape than they are.

davesaddiction @ opposite-lock.com > ttyymmnn 09/01/2020 at 11:33

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You had to pony up when you filed - did you actually end up paying a higher tax rate for the year? That really sucks, if so.

WilliamsSW > WilliamsSW 09/01/2020 at 11:34

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Oh and I forgot - the people who really need money are the ones NOT WORKING.  This does dick for them. 

Discerning > ttyymmnn 09/01/2020 at 11:35

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Well that is a bummer for me. Fantastic

Arch Duke Maxyenko, Shit Talk Extraordinaire > ttyymmnn 09/01/2020 at 11:41

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Remember, this is 100% up to the Employers and not up to the Employees.

Making a strong case for unionization this order is.

ADabOfOppo; Gone Plaid (Instructables Can Be Confusable) > Stef Schrader 09/01/2020 at 11:44

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But if we did the right thing, that might help brown people.

Can’t have that.

Sigh...I hate this bullshit time line.

Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) > ttyymmnn 09/01/2020 at 11:46

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Yeah, I think I got $42.00 back from federal and owed $21 in state. I think in  previous years I got like $500-800 back from federal.

AestheticsInMotion > ttyymmnn 09/01/2020 at 11:50

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Are any companies actually going through with this? Seems like a terrible move when they’re 100% on the hook for getting that money back to U ncle Sam

nerd_racing > Stef Schrader 09/01/2020 at 11:56

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Join the club, we’ve got jackets.  New Zealand looks more and more attractive everyday...  

jminer > Stef Schrader 09/01/2020 at 12:03

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This is my thought, that I’m done with it all  - the Mrs and I are talking seriously about planning to leave this country in a couple years...

Smallbear wants a modern Syclone, local Maple Leafs spammer > I like cars: Jim Spanfeller is one ugly motherfucker 09/01/2020 at 12:09

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That’s what’s happening here in Canada.

gettingoldercarguy > nerd_racing 09/01/2020 at 12:14

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Have your ducks lined up for this.  There are pluses and minuses for the jump.  

ttyymmnn > Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) 09/01/2020 at 12:20

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Ideally, of course, you’d break even at tax time. Not owe, not get a refund. But getting a refund is nice. Corporations get to keep their tax breaks, ours will go away. Somebody is getting rich off this deal, and it ain’t John Q. Public.

ttyymmnn > jminer 09/01/2020 at 12:22

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The secret to doing nothing is making it look like you’re doing something. 

ttyymmnn > davesaddiction @ opposite-lock.com 09/01/2020 at 12:23

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I think we got shafted on the child credits this year. I’m not sure of other details, since my wife does the taxes. I just rub her shoulders and keep her coffee cup full.

ttyymmnn > Arch Duke Maxyenko, Shit Talk Extraordinaire 09/01/2020 at 12:24

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But unionz bad!

Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) > ttyymmnn 09/01/2020 at 12:30

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Yeah, I have no problem breaking even. More that the same amount of withholding ended up changing that much year-to-year with marginal changes to income and such.

jminer > ttyymmnn 09/01/2020 at 12:35

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It is an art

nerd_racing > gettingoldercarguy 09/01/2020 at 12:36

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10+ years mechanical engineering experience, 2 of which Engineering Management.  Career wise I should be alright.  

Stef Schrader > nerd_racing 09/01/2020 at 12:36

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I don’t think I’ve gone a day during this without offering to move to the Nürburgring. (To be fair, I did that a lot before, but I have MORE REASONS now.)

wafflesnfalafel > Arch Duke Maxyenko, Shit Talk Extraordinaire 09/01/2020 at 12:37

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gotta pay for those executive golden parachutes somehow

shop-teacher > ttyymmnn 09/01/2020 at 12:43

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I don’t get social security anyways.

fintail > I like cars: Jim Spanfeller is one ugly motherfucker 09/01/2020 at 12:47

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Developed country lol.  Well, parts of it anyway.

fintail > Stef Schrader 09/01/2020 at 12:48

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Once I win that lottery, I’m outta here.

ZHP Sparky, the 5th > jminer 09/01/2020 at 12:48

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Same here. This is just the topper on the cake. Even if Trump gets FIRED in November much of this toxicity will stay the same. And oh god imagine Trump as an ex-President, what a pain in the ear that will be.

Add to that wanting to be closer to family (mine in Asia, wife’s on the east coast...limits the options quite a bit ), and not wanting our daughter to grow up with all this crap going on around us (or the damn concept of active shooter drills at school?) we’re seriously looking in to just going elsewhere.

I’ve done the immigration thing once already in this country, and it took 17 damn years. I have very little appetite to go through something similar again...but “it’s hard” simply isn’t a good enough reason to not try at this point.

fintail > ttyymmnn 09/01/2020 at 12:48

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But praetorian unions = good.

fintail > ttyymmnn 09/01/2020 at 12:49

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So much winning.  This will make things great again!

ZHP Sparky, the 5th > WilliamsSW 09/01/2020 at 12:51

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Hey didn’t you know, the best way to stimulate an economy is to give money to responsible employed people/ “job creators” who create some form of vague economic activity* that will then pay for things that will then pay people who are not lazy bums living off the government dime.

...instead of just PAYING PEOPLE.

*or you know, do nothing with the money and hide it under their matt ress given economic uncertainty

ZHP Sparky, the 5th > AestheticsInMotion 09/01/2020 at 12:53

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MyPillow, probably. 

ZHP Sparky, the 5th > fintail 09/01/2020 at 12:53

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Didn’t you hear Newsom’s ex-wife? THE BEST IS YET TO COME.

jminer > ZHP Sparky, the 5th 09/01/2020 at 13:08

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That’s the thing, even if Trump is gone the damage that put him here is still here and worse now. With most folks unwilling to even entertain minor changes from what they deem as necessary and our government basically unable to govern it’s terrifying to live her long term.

Short term we’re moving to a more liberal area (California ) from an extremely red state (Missouri) but in a few years will likely make a move to Europe is what we’re thinking.

ttyymmnn > Stef Schrader 09/01/2020 at 13:16

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This is where I want to live.

davesaddiction @ opposite-lock.com > ttyymmnn 09/01/2020 at 13:16

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LOL - my wife used to do our taxes (for a decade plus), but they got complicated a few years ago (I am fortunate to own a tiny percentage of the company I work for) . I made the mistake of not contacting our tax guy well ahead of the delayed deadline , and thought we could do it ourselves again this year. BIG NOPE. Thankfully he was able to squeeze us in to get an extension and then file a little later.

nerd_racing > Stef Schrader 09/01/2020 at 13:16

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Do they have spicy enough food for you over there?  

davesaddiction @ opposite-lock.com > Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) 09/01/2020 at 13:17

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fintail > ZHP Sparky, the 5th 09/01/2020 at 13:19

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She tells me about the poor state of our mental health system.  Real apparent lunatic there.

ttyymmnn > davesaddiction @ opposite-lock.com 09/01/2020 at 13:22

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I’ve been saying for a long time that we should have somebody do them for us. It’s not all that difficult (she uses TurboTax), but we are probably not taking full advantage of the law. 

ttyymmnn > Bman76 (hates WS6 hoods, is on his phone and has 4 burners now) 09/01/2020 at 13:27

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I don’t think that the stimulus check counts as taxable income.

https://www.forbes.com/sites/advisor/2020/04/06/dont-worry-the-1200-stimulus-payment-wont-cut-into-your-tax-refund-next-april/#72c3ad9f5ea8

davesaddiction @ opposite-lock.com > ttyymmnn 09/01/2020 at 13:30

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“Taking full advantage of the law” seems to take a lot more moves throughout the year than just at filing time. I don’t think our guy saves us any money, but he makes sure they’re done right.

We do the normal things: 401k, 529, charitable donations.

nermal > ttyymmnn 09/01/2020 at 13:30

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Work the system! This is a bril liant move.

Trump can defer taxes with an executive order , but he can’t cancel them, congress needs to do that . People are short sighted and selfish. Trump (and the other Rs up for election in November) can campaign on giving middle-class and lower-middle-class workers more money in their paychecks. That can sway swing voters in swing states to vote accordingly.

The end goal isn’t just a Trump victory, it’s also swinging back to an R H ouse and strengthening the R Senate majority at the same time. Sell that the Ds won’t forgive the deferred taxes, and are therefore Bad People (tm). 

WilliamsSW > ZHP Sparky, the 5th 09/01/2020 at 13:41

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Lol. Even that would make more sense than something that doesn’t change what you owe by a single penny. This  only changes *when* you owe it.

Dr_Watson > ttyymmnn 09/01/2020 at 13:44

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Fucking terrible idea. 

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/01/2020 at 13:52

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In the Army, we called it shamming  and it was a respected art.

Rusty Vandura - www.tinyurl.com/keepoppo > I like cars: Jim Spanfeller is one ugly motherfucker 09/01/2020 at 13:53

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It’s a tax credit. Your tax bill for the year is reduced by that amount and if you don’t pay any taxes anyway, then it was like an earned income credit. So it was money given to you in the form of money not taken from you. But it’s money you wouldn’t have had otherwise.

Mid Engine > nerd_racing 09/01/2020 at 13:54

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I’ve got two passports

and 18 months ago got this guy

Trump gets re-elected, I’ll be back in Canada. 

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/01/2020 at 13:54

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You are so cynical.

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/01/2020 at 13:54

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I have to calculate that now for the remainder of the year. Ideally, you’d get a small refund, maybe $500.

gettingoldercarguy > nerd_racing 09/01/2020 at 13:55

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Yeah, my wife and I are doing our due diligence for what we want and what we can expect. We’re looking at a 3-5 year plan.  The upcoming election will influence our interest and speed. Tired of 30+ years that science, education and intellectualism has been under attack. Factor in the gun violence, children practicing active shooter drills for school..yeah.

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/01/2020 at 13:55

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I pay the tax preparer down the street. Money well spent.

nerd_racing > Mid Engine 09/01/2020 at 13:56

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I live so close to Ft. Erie it’s not even fair. 

Mid Engine > nerd_racing 09/01/2020 at 14:01

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I’m 90 minutes away from the B.C. border => hop/skip/jump

PS9 > ttyymmnn 09/01/2020 at 14:29

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President Donald Trump says he’d like to see the uncollected taxes forgiven altogether if he’s re-elected in November.

...By terminating social security and Medicare. HARD PASS.

functionoverfashion > ttyymmnn 09/01/2020 at 14:32

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This is applicable in all kinds of arenas.

ttyymmnn > Dr_Watson 09/01/2020 at 14:46

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But it looks good on the campaign trail.

ttyymmnn > Rusty Vandura - www.tinyurl.com/keepoppo 09/01/2020 at 14:46

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I imagine people in the army have been shamming as long as there has been an army. 

ttyymmnn > jminer 09/01/2020 at 14:56

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One summer during college I worked for a temp agency. I got sent out to a road construction job to work the “STOP-SLOW” sign (I wore a short sleeve shirt, and got the worst sunburn of my life; lesson learned). There was an old guy on the crew who had a shovel. All day, he moved around the job site, pushing at dirt with his shovel. He never did a damned thing all day. Nothing, except walk around with his shovel. And since he was moving, nobody messed with him. It was brilliant. 

nerd_racing > Mid Engine 09/01/2020 at 15:03

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Less than an hour.... 

PS9 > Stef Schrader 09/01/2020 at 15:26

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1) Do it the way it works like the others did, but also admit that they do some things better than you and you aren’t the best at everything .

2) Do it OUR way , which is the worst of all options leading to the worst outcome possible. There will be a pile of bodies,  but beating others at being the worst is still beating everyone at something

Pile of bodies it is, then. *sigh*

Stef Schrader > nerd_racing 09/01/2020 at 15:32

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If there’s one thing this stupid dragged-out pandemic has taught me, it’s that I’m more than able to make painful food myself.

Stef Schrader > Mid Engine 09/01/2020 at 15:42

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It’s honestly depressing when the topic du jour on one of my forums’ chats is how to get the hell out of here. I’ve never seen such illogical fanaticism for a truly toxic leader like this. People putting up Trump banners over or in place of the ones for the country or their state feels like the sort of thing you see in historic photos of fascist states. Just complete allegiance to a specific political party over everything else.

Stef Schrader > ttyymmnn 09/01/2020 at 15:44

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nice

ttyymmnn > Stef Schrader 09/01/2020 at 15:49

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I do wonder what’s up with that house though. 

Stef Schrader > fintail 09/01/2020 at 15:49

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I gotta stick around for my mom...who I can’t visit ........because I’m in a city that’s been relatively bad-off and she’s got a bunch of preexisting conditions that put her at a much higher risk.

I try very, very hard not to swear in text , but f uck this fucking bullshit and especially all of the selfish fucking morons who keep prolonging the worst of it. I’m absolutely done with all of this. I have run out of patience. I just want it to be over.

Mid Engine > Stef Schrader 09/01/2020 at 16:06

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Agreed, and if he gets re-elected it speaks volumes about the character of this country. Countries around the world now view USA with either disdain , derision, or pity. I’m tired of apologizing for living here, and I have options.

jminer > ttyymmnn 09/01/2020 at 16:22

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When I started this job there was an old guy that’d worked her for 25 years and as far as I can tell he didn’t have any assigned duties. His job was when you came across something strange about our infrastructure you’d ask him and he would tell you a story about why that is the way it is and who to talk to to change it.

His work output was almost nothing but inherent experience, which was valuable but worked like 2-3 hours a week in reality. It was a nice gig as he wound down for retirement.

ZHP Sparky, the 5th > jminer 09/01/2020 at 16:23

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Yeah hopefully that Bay Area jump will help open some avenues to move over to Europe. Obviously it’s not easy to just show up and settle down there, just like the situation here. Having an employer you can move with (and pay for the move) and/or competitors who’d love to bring you over from one big name to another is a plus.

Quite a few of my friends/contacts from the Bay Area have ended up in the UK, and personally that’s what we’re aiming for long term as well. Has it’s own set of negatives with Breaks-it, Boris, etc. but still better than the situation here and solves quite a few of our other issues (proximity to family - fun fact, London to Boston is practically the same flight length as our current Portland to Boston flight, etc.). 

jminer > ZHP Sparky, the 5th 09/01/2020 at 16:26

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Yeah the firm I’m (hopefully) moving to has a worldwide presence and my boss worked in the Germany office for like 8 years before ending up in San Jose.  This will hopefully help with that cross-continent move when it’s time.

ttyymmnn > jminer 09/01/2020 at 16:33

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I recently read an article about the NYC Subway, and about how they wanted to pare down the number of employees. Trouble was, there were so many people working there who didn’t even have a title or fit anywhere in the organizational chart, yet they all had “jobs” that called upon their experience. It’s a mess. 

onlytwowheels > ttyymmnn 09/01/2020 at 17:01

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To the thinking person it does not, so very accurate statement...

fintail > Stef Schrader 09/01/2020 at 17:28

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My mom is slowing down a bit now that she’s in her 70s, but I could probably get her on a first class flight, or so I hope. Money can solve a lot of traveling ills.

American exceptionalism is really showing its face during this crisis. The nation is slowly but surely becoming a pariah. I have no idea when I’ll be able to visit Canada again, not to mention Europe.

I notice the USD has slumped relative to many other currencies over the past couple months, maybe a sign of things to come.

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/01/2020 at 17:34

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Being a good shammer is a source of pride. But then again so is work. When you work hard every day, they leave you alone. My last year, when I was a sergeant, I worked my a$$ off and it was great. I also whined and complained a lot, but I had swagger and people largely respected me. Except for the whining.

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/01/2020 at 17:34

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I was thinking about that story.

Rusty Vandura - www.tinyurl.com/keepoppo > jminer 09/01/2020 at 17:46

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I had a job working for an insurance company as some sort of analyst. I don’t really know what sort, because I never did any work. It was one of those deals where the manager was more managerial if he had more employees working for him. This was like twenty years ago. I was making $50k a year and once went an entire week, Monday at 8 am until Friday at 5, without doing anything . And it was fine. But I got another job because I wanted more out of life.

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/01/2020 at 17:47

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In my school district, like fifteen years ago, there was a message that said, We’ve come to the conclusion that hiring is out of control so we’re hiring someone to manage the hiring.

ZHP Sparky, the 5th > jminer 09/01/2020 at 17:52

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Definitely helps having a boss who has done similar stuff. The next group I’m trying to position myself for is run by a guy (at least currently, we have a rotation culture that is crazy rapid) who has worked all over the world and is very supportive of such goals (and has teams in the UK). Hopefully something I can leverage, honestly sounds exhausting moving continents while also moving companies otherwise. 

jminer > Rusty Vandura - www.tinyurl.com/keepoppo 09/01/2020 at 18:01

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This is a lot of where I am now. I only have to do work if I search it out, otherwise I can get by with working a few hours a week and that doesn’t do it for me.

In my Group we have a VP who’s direct reports are AVPs and Senior Managers who have managers and team leads report to them and then there’s us.  Like 1/4 of our employees are managers of some sort.

jminer > ZHP Sparky, the 5th 09/01/2020 at 18:03

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That sounds like a nice possible move.  Good luck!

ttyymmnn > Rusty Vandura - www.tinyurl.com/keepoppo 09/01/2020 at 18:22

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Stef Schrader > fintail 09/02/2020 at 09:42

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Yeah. Mine can’t travel for longer distances at all . That sorta limited my j ob search until she admitted that she’s fine with me moving further.

At this point, the main part we’re “exceptional” at is having exceptionally stupid leadership. It’s horrifying. We’ve got to get over this pig headed misconception that no other situations could help us figure out and fix our own.

fintail > Stef Schrader 09/02/2020 at 12:07

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I am somewhat fortunate in that my sister is married with a kid - something for my mom to dote on, so attention is off me. I could probably move to Timbuktu with only some groans and a promise to visit.

Most developed countries are coping with covid far better than the US - but will Murka see what can be learned from them? Nope. Just like with healthcare, education, socio-economic issues, etc. USA is the best at everything!

Stef Schrader > ttyymmnn 09/02/2020 at 16:43

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Spa used to be a road, no? I’d imagine it was either there before or built when some lucky dude realized what he had.