Suspend Payroll Tax thru 2020 ?

[jspy5]

@NKBJ

you'll have ....

get ready .......more money in your pocket......

it's NOT OPTIONAL at this point and will last 'til the end of the year.

by the way...

Can you explain a little more on why this is NOT optional. What happens if you continue to pay ?

 

[KittySlayer]

Can you explain a little more on why this is NOT optional. What happens if you continue to pay ?

Because it would be a nightmare for payroll managers processing paychecks.


edit: fixed formatting on quoting brackets. Oops.

 

[starbreather]

I doubt most employers will stop collecting it.

 

[openwell]

at kittie slayer$

sorry that's NOT my Quote...

IT IS FROM SOMEBODY jspy5????

in some twisted question I did not ask....

AND YOUr Answer is completely & utterly ridiculous too.....

payroll is so automated it's a simple "switch" to turn off

federal payroll taxes.

NOT OPTIONAL... cause it's a

Presdential EO written by the Treasury Secretary... effective

August 1 thru Dec. 31

 

[DoggyDaddy]

at kittie slayer$

sorry that's NOT my Quote...

IT IS FROM SOMEBODY jspy5????

in some twisted question I did not ask....

AND YOUr Answer is completely & utterly ridiculous too.....

payroll is so automated it's a simple "switch" to turn off

federal payroll taxes.

NOT OPTIONAL... cause it's a

Presdential EO written by the Treasury Secretary... effective

August 1 thru Dec. 31

Spoken like someone that doesn't work in IT.

 

[openwell]

Spoken like someone that doesn't work in IT.

spoken as a man who used punch cards with......
Fortran 4 when you were only a gleam in someones eye

A CPA with a Masters degree....
and a "little" experience...
with payroll & tax law.....

sorry pal if MS Windows 10 & excel is all you can handle in spread sheets

 

[DoggyDaddy]

spoken as a man who used punch cards with......
Fortran 4 when you were only a gleam in someones eye

A CPA with a Masters degree....
and a "little" experience...
with payroll & tax law.....

sorry pal if MS Windows 10 & excel is all you can handle in spread sheets

Uh, "pal" I work on a DoD payroll system - mainframe. There are a lot of things to consider especially since this will be retroactive to August 1st. Plus it will all need to be tracked and accounted for in case it isn't forgiven. It's a lot more involved than "flipping a switch". So, how many hundreds of thousands of customers do you have?

 

[JettaKnight]

spoken as a man who used punch cards with......
Fortran 4 when you were only a gleam in someones eye

A CPA with a Masters degree....
and a "little" experience...
with payroll & tax law.....

sorry pal if MS Windows 10 & excel is all you can handle in spread sheets

It's hard to take you seriously when your post all look like this (or worse).

Do you smell burnt toast?

 

[KittySlayer]

Uh, "pal" I work on a DoD payroll system - mainframe. There are a lot of things to consider especially since this will be retroactive to August 1st. Plus it will all need to be tracked and accounted for in case it isn't forgiven. It's a lot more involved than "flipping a switch". So, how many hundreds of thousands of customers do you have?

Gotta agree with you Doggy... there is not magic button on my keyboard for these "simple" changes.

Also spoken as a man who used punch cards...
A CPA with a Masters degree in Taxation....
and a "little" experience...
with payroll & tax law.....
and the consequences of so called "simple" program changes...

 

[DoggyDaddy]

Gotta agree with you Doggy... there is not magic button on my keyboard for these "simple" changes.

Also spoken as a man who used punch cards...
A CPA with a Masters degree in Taxation....
and a "little" experience...
with payroll & tax law.....
and the consequences of so called "simple" program changes...

The hoops we had to jump through (and are still jumping through) for that CARES act were anything but simple.

 

[Route 45]

at kittie slayer$

sorry that's NOT my Quote...

IT IS FROM SOMEBODY jspy5????

in some twisted question I did not ask....

AND YOUr Answer is completely & utterly ridiculous too.....

payroll is so automated it's a simple "switch" to turn off

federal payroll taxes.

NOT OPTIONAL... cause it's a

Presdential EO written by the Treasury Secretary... effective

August 1 thru Dec. 31

Master's degree? CPA? If this is the level of your communication skills, I wouldn't let you fill out a 1040EZ for me.

I've seen better syntax from a Nigerian prince asking me for my bank account number.

 

[JettaKnight]

Master's degree? CPA? If this is the level of your communication skills, I wouldn't let you fill out a 1040EZ for me.

I've seen better syntax from a Nigerian prince asking me for my bank account number.

Ellipsis are the textual equivalent of a vocal fry.

 

[MCgrease08]

Well this thread took an interesting turn.

 

[jedi]

agree.
Quit bullying him.
He gave a very good short summary of the changes and what those of you that will be affected should/can do.

Those of you who know the tech/work on it know it's not a simple switch of the system and that is fine. Dont beat him up for sounding the alarm of the storm that is coming.

But then again this is INGO!!!
(insert sparta toss into pit gif here).

Now can we get back on track.
We are 1/2 thru august and if this occurs it's going to be a major headache.

SAVE THAT EXTRA MONEY.

 

[foszoe]

Speekin, of Im steel waiting on ur PM.

Master's degree? CPA? If this is the level of your communication skills, I wouldn't let you fill out a 1040EZ for me.

I've seen better syntax from a Nigerian prince asking me for my bank account number.

 

[d.kaufman]

I havent seen the actual EO but every article I've read about this doesn't mention it is mandatory and 5-6 articles I've read state Sept 1 thru Dec 31. No mention of retroactive to Aug 1.

Does anyone have an actual link to the EO itself?

 

[jedi]

https://www.federalregister.gov/presidential-documents/executive-orders/donald-trump/2020

This is where it will show up.

 

[jedi]

This may be it at the White House page

https://www.whitehouse.gov/presiden...-obligations-light-ongoing-covid-19-disaster/

 

[KittySlayer]

September 1st is what I have been seeing everywhere.

Does anyone have an actual link to the EO itself?

 

[jedi]

Yup sep 1 to dec 31.
Read section 4.
He is directing treasury to find a way to forgive the tax obligations caused by his deferment to include legislation.

Meaning you still technically owe that tax unless they find a way to forgive it.

So as has been stated before

SAVE THAT MONEY!!!! IT AINT YOURS.