You are not logged in.
Pages: 1
Its clear that we now have cooking of the books that allow the rich to claim near zero when those at the bottom pay it all....
Making matters worse has been the covid-19 to which The IRS Still Hasn't Processed 2.5 Million 2019 Tax Returns on processing paper returns as it's estimated that the agency has yet to look at 2.5 million hard copy tax returns for 2019, which means many filers could end up waiting a long time to receive their refunds.
Those who filed on paper but also took advantage of that delayed deadline could really end up waiting a long time for a refund. This especially holds true if a second round of stimulus payments is approved to go out to the public, because that will no doubt divert at least some IRS resources. Now the good news is that the IRS is prepared to pay interest on overdue refunds; but that doesn't mean Americans don't want their money as soon as possible.
This next years returns are going to be even more different with the stimulus checks that were not given to defendants over the age of 17....
Offline
The reduction of tax removal from most peoples pay has caused a problem for when they expire.
Trump's Payroll-Tax Deferral Creates Predicament for Congress
President Trump’s decision to defer payroll taxes until the end of the year is leaving challenges for lawmakers to manage after he leaves office in January, and they haven’t figured out what—if anything—to do.
Members of Congress in both parties weren’t keen on the August executive action, which let employers stop collecting the 6.2% Social Security payroll tax from many workers in the final four months of 2020. The move was meant as a form of relief during the economic slump caused by the coronavirus pandemic, but few employers stopped withholding.
That created a predicament for Congress. Employees whose payroll taxes temporarily shrank will face double withholding starting in Jan
That means doubled up taxes for those that did not have it removed....
Offline
Pages: 1