Payroll Tax Executive Order

FightingIrish2012

Forum Sage
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860
Nobody is having it deferred? That is good or bad I guess for y'all, I still think they will not do the double tax thing in 2021 to reclaim it, so if I am eligible for this I would want the deferral, just don't spend it right away just incase.
 

FightingIrish2012

Forum Sage
Messages
860
Maybe since the pay period ended in August they won't start to withhold until next PP? Or maybe OPM just said "fuck it, this is too hard we are not going to do it".
 

CK

Trusted Contributor
FAA
Messages
104
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AFW Alliance Tower
Mine shows 6.2% still, past LES has shown about 190/220 taken. This one today shows 6.2% and 10 dollars taken. 🤣 We're so screwed.
 

32andBelow

Legendary Member
Messages
3,239
I’m half expecting them to just send us a bill and make us write them a check.
Like I got all my shit set up. Now I gotta change everything so i can have the rest if my check in jan. Like it’s the same but it’s just like work for nothing lol
 

mnsalty

Forum Sage
Messages
568
Concur, I've also seen it firsthand.

Im not totally sure how they’ll handle taxes, but it’s really no different than any deduction. They’re just paying the tax on your behalf - I suppose In theory you could claim exempt and then pay it all yourself In April but who tf does that?
 

32andBelow

Legendary Member
Messages
3,239
Im not totally sure how they’ll handle taxes, but it’s really no different than any deduction. They’re just paying the tax on your behalf - I suppose In theory you could claim exempt and then pay it all yourself In April but who tf does that?
Idk it’s social security. Not income.
 

Termine

Trusted Contributor
Messages
252
I got the 6.2% taken out. Super strange that some did and some didn't. And yeah mnsalty I don't know that there's any way to "true up" your OASDI and medicare taxes on your own like there is with income tax. Probably because there's no reason for it to be wrong, until people start messing with deferring the payments...
 

32andBelow

Legendary Member
Messages
3,239
I got the 6.2% taken out. Super strange that some did and some didn't. And yeah mnsalty I don't know that there's any way to "true up" your OASDI and medicare taxes on your own like there is with income tax. Probably because there's no reason for it to be wrong, until people start messing with deferring the payments...
There’s gotta be some way cus self employed people still pay it
 

CF

Legendary Member
I ♥ pointSixtyFive
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1,678
There’s gotta be some way cus self employed people still pay it
SDI and Medicare are the responsibility of the employer to pay. So my guess is self employed people just have an extra step when they do their taxes that makes sure they pay that part of it.
 

Mike Kilo

Legendary Member
Messages
1,455
Maybe look at your last pay check and take that amount, put it in savings. If you get a pay raise, add the % you increased. You pay $100 now, well if you get a 4% raise, save $104. Hope you get it forgiven in January (my guess anyway).
 
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