Payroll tax holiday begins today. What it means. (employees, employer)

[Wo1234]

Originally Posted by Coldjensens

It appears to be very clever actually. You get a loan that DT says will not have to be paid back as long as he gets re-elected. If Biden wins- well then you are going to owe the government a ton of money.



IF DT is re-elected, he will try to make it permanent and congress will stop him and he can blame congress. Even if that fails, he does not really care too much once he is re-elected to his final term.



If Congress blocks him now, he can tell people he tried to get them some relief, but Congress blocked him. Sorry, no money for you - bad congress.



I do not see anything but a win for him in this. It seems very clever.

Clever for stupid people who fall for it lol, I get what your saying though , there’s a lot of stupid people out there..he put like a poison pill effctuv

[Wo1234]

Originally Posted by bassguppy

My wife and I work for the VA and this most recent paycheck had the payroll deduction.

Got an extra $370 total combined. this is gonna hurt in 2021.

Why not just save the extra money for next year? I’m a fed employee too so in same boat

[RamenAddict]

Originally Posted by Wo1234

Why not just save the extra money for next year? I’m a fed employee too so in same boat

Yep, same here. I just put the extra in my savings and will continue to do so for the rest of the year. My union sent out an email that you had better save, because it’s not going to be forgiven. My officemate is in a different union and she told me hers is working to bargain on this as well. I would rather opt out, since I only get like $.12 monthly in my savings account.

[BugsyPal]

Originally Posted by bassguppy

My wife and I work for the VA and this most recent paycheck had the payroll deduction.

Got an extra $370 total combined. this is gonna hurt in 2021.

Not if you put that money away (save) instead of letting it burn a hole in your wallet.

OTOH if you go with mentality majority of Americans who spend nearly every penny they get, then yes, be prepared to write a very large check to IRS next year by 15 April.

[E Cig Cloud]

It’s a joke. That policy won’t be implemented. Y many due to the cost of development and the limited time to prepare. Additionally, it will have to be reversed with a cost. Employees are not really smart enough to know how this will have to be repaid later in 2021.

[ukrkoz]

Just keep in mind that, IRS is not a government agency and will NOT forgive anyone any unpaid taxes.


2. A close review of 31 U.S.C. disclosed that the Internal Revenue Service, a Private Corporation, is not shown as a division, bureau, or any part of the U.S. Treasury Department. All this can be looked up any time on Firstgov. 31 U.S.C. Chapter 3 does not list the IRS as an agency or part of the Treasury Department. 31 U.S.C. Subtitle VI section 9101 does not show the IRS as a Government Owned Corporation under “ Government Corporations “. 31 U.S.C. Subtitle I Chapter 9 section 901 does not list the IRS as an authorized agency.

[Wo1234]

Originally Posted by ukrkoz

Just keep in mind that, IRS is not a government agency and will NOT forgive anyone any unpaid taxes.


2. A close review of 31 U.S.C. disclosed that the Internal Revenue Service, a Private Corporation, is not shown as a division, bureau, or any part of the U.S. Treasury Department. All this can be looked up any time on Firstgov. 31 U.S.C. Chapter 3 does not list the IRS as an agency or part of the Treasury Department. 31 U.S.C. Subtitle VI section 9101 does not show the IRS as a Government Owned Corporation under “ Government Corporations “. 31 U.S.C. Subtitle I Chapter 9 section 901 does not list the IRS as an authorized agency.

Where the **** you see that

[BugsyPal]

Originally Posted by ukrkoz

Just keep in mind that, IRS is not a government agency and will NOT forgive anyone any unpaid taxes.


2. A close review of 31 U.S.C. disclosed that the Internal Revenue Service, a Private Corporation, is not shown as a division, bureau, or any part of the U.S. Treasury Department. All this can be looked up any time on Firstgov. 31 U.S.C. Chapter 3 does not list the IRS as an agency or part of the Treasury Department. 31 U.S.C. Subtitle VI section 9101 does not show the IRS as a Government Owned Corporation under “ Government Corporations “. 31 U.S.C. Subtitle I Chapter 9 section 901 does not list the IRS as an authorized agency.

It's funny because it is so wrong.....

quote

Contention: The Internal Revenue Service is not an agency of the United States.
Some argue that the Internal Revenue Service is not an agency of the United States but rather a private corporation, because it was not created by positive law (i.e., an act of Congress) and that, therefore, the IRS does not have the authority to enforce the Internal Revenue Code.

The Law:
There is a host of constitutional and statutory authority establishing that the Internal Revenue Service is an agency of the United States. The U.S. Supreme Court stated in Donaldson v. United States, 400 U.S. 517, 534 (1971), "[w]e bear in mind that the Internal Revenue Service is organized to carry out the broad responsibilities of the Secretary of the Treasury under § 7801(a) of the 1954 Code for the administration and enforcement of the internal revenue laws."

Pursuant to section 7801, the Secretary of Treasury has full authority to administer and enforce the internal revenue laws and has the power to create an agency to enforce such laws. Based upon this, the Internal Revenue Service was created. Thus, the Internal Revenue Service is a body established by "positive law" because it was created through a congressionally mandated power. Moreover, section 7803(a) explicitly provides that there shall be a Commissioner of Internal Revenue who shall administer and supervise the execution and application of the internal revenue laws.

/quote

https://www.irs.gov/businesses/small...Revenue%20Code.

But feel free to keep believing in that bit of drivel you dredged up; am sure you and your federal prison cellmate Bubba will be very happy together.

[SuiteLiving]

Originally Posted by Pick Me Today

We just received an email indicating that it was a stupid idea and too costly for the agency to implement.

This might have relevance or credibility if anyone knew what agency you were referring to.

[BijouBaby]

Originally Posted by SuiteLiving

This might have relevance or credibility if anyone knew what agency you were referring to.

Why do you need to know what agency they are referring to? Their credibility is not imputed because this information is not divulged to you.

My large state agency employer also took a similar stance. Not sufficient time or resources to implement this (fake) tax holiday. I completely concur and glad they didn't impose this silliness and inconvenience on their employees.