President Obama signed legislation Friday extending a payroll tax cut for two months, concluding an end-of-year drama that split Republicans and threatened a tax hike on 160 million Americans.
Have a tip or story idea? Does the deferral apply to the parallel Social Security taxes owed by the self-employed?
Or to keep it anonymous, click here. “I’ve got a pen to take executive actions where Congress won’t, and I’ve got a telephone to rally folks around the country on this mission,” then-President Obama said in 2014, outraging the right. Is an employer required to defer payment of employee portion of payroll taxes? Whereas Trump has maintained he is not hamstrung by Congress all along. Even Pelosi echoed the claim on " … Congress has already deferred the employer portion, and under the law Mr. Trump can defer the 6.2% employee share. 9 Shocking Times Defendants Testified at Trial, 10 Most Memorable Law&Crime Network Trials, Anti-Virus Guru John McAfee Indicted on Numerous Tax Evasion Charges, Former LA Dodger Died of Self-Inflicted Gunshot Wound While Being Sought in Death of Ex-Girlfriend: Cops, DOJ Joins Baptist Church’s Lawsuit Against D.C. Mayor: You Can’t Allow Thousands to Protest While Restricting Worship Outdoors, Supreme Court Allows 5Pointz Graffiti Artists’ $6.7M Victory Over NYC Developer to Stand: ‘Huge Win for Street Art…’, Man Smashed Window of Patrol Vehicle, and Pepper Sprayed Officer, Police Say, Negligence Lawsuits Against the White House Over COVID-19 Outbreak Likely Wouldn't Fare Too Well, IRS Reportedly Investigating NRA Boss for Criminal Tax Fraud as NY AG Seeks to Destroy Gun Rights Organization, Dr. Conley Declined to Reveal Details About the Condition of President Trump’s Lungs—What You Need to Know About HIPAA, Clarence Thomas Refuses to Hear Kim Davis’s Case, But Calls, E. Jean Carroll’s Lawyers Tear into DOJ for Riding to Trump’s Rescue: ‘Viciously Defaming a Woman He Sexually Assaulted’ Isn’t a President’s Job, Negligence Lawsuits Against the White House Over COVID-19 Outbreak Likely Wouldn’t Fare Too Well, Lawyers Criticize COVID-Positive GOP Senator for Vowing to Vote ‘In a Moon Suit’ to Confirm Amy Coney Barrett to SCOTUS. What payroll taxes are able to be deferred?
Sasse was not the first or the only person to compare Trump’s use of executive authority viz. It's not just that the $120 billion cost of the "payroll tax holiday" could be used more effectively in other ways. On August 28, Treasury Department released guidance providing additional detail for the implementation of this Executive Order. The National Review, a conservative publication, published a piece on Sunday that said Trump had ushered in the “Return of Pen-and-Phone Constitutionalism.”. Early Saturday evening, Trump signed three memoranda and one executive order which directed the federal government to: (1) suspend collection of the payroll tax–at employers’ discretion–until the end of the year; (2) asked his subordinates to find ways to avoid evictions in federally-managed properties; (3) unilaterally ceased payments and interest on all student loan debt; and (4) which created a new, temporary, federal program under the aegis of the Federal Emergency Management Agency (FEMA) that would allow unemployment claimants to receive an additional $300 per week for roughly five weeks on top of meager state unemployment benefits–provided that their states also chip in an additional $100 per week. (Obama's economists keep repeating that this plan will save $1,000 next year for a family making $50,000, and that's true. payroll tax collection to Obama’s own authority implementing the Deferred Action for Childhood Arrivals (DACA) program.
In both instances, each president directed the relevant authorities in charge of administrative agencies to defer enforcing the relevant portions of the federal code. “RINO Ben Sasse, who needed my support and endorsement in order to get the Republican nomination for Senate from the GREAT State of Nebraska, has, now that he’s got it (Thank you President T), gone rogue, again,” the 45th president tweeted–invoking an age-old acronym that suggests insufficient conservative purity. Former Vice President Joe Biden criticized President Donald Trump’s executive order paving the way for a payroll tax holiday years after former President Barack Obama called it “inexcusable” for lawmakers not to extend a similar cut during the recovery from the 2008 recession. Medicare payroll taxes and the employer portion of Social Security payroll taxes are not included in the EO. Email us. Sasse previously criticized the president for his photo op with the Bible. Who is eligible for payroll tax deferral? The EO states the threshold is an “equivalent amount with respect to other pay periods,” however the guidance does not provide a formula for making this adjustment. White House Press Secretary Kayleigh McEnany noted that Obama repeatedly said he lacked executive authority for the DACA program–before he decided he did, in fact, have such executive authority. Just now, President Obama signed the Middle Class Tax Relief and Job Creation Act of 2012 -- extending the payroll tax cut and emergency jobless benefits through the end of the year. The employee portion of Social Security payroll taxes may be deferred for certain employees for wages paid from September 1, 2020, to December 31, 2020. An employer must withhold and pay the total applicable taxes deferred from wages and compensation paid from January 1, 2021, to April 30, 2021. Will the deferred taxes need to be paid back in one lump sum? “President Obama did not have the power to unilaterally rewrite immigration law with DACA, and President Trump does not have the power to unilaterally rewrite the payroll tax law. It serves as a counter to Democrats deriding President Donald Trump's executive order on a payroll tax cut as a de facto defunding of social security. Does the Executive Order (EO) hurt Social Security? The EO provides temporary relief for employers from the obligation to withhold and pay the employee portion of Social Security payroll taxes for certain employees. On August 8, President Trump signed an Executive Order, Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, which deferred the employee portion of Social Security payroll taxes for certain individuals.
The White House, for their part, pushed back on the Obama comparison on Monday afternoon. Employers may defer the employee portion of Social Security payroll taxes for any employee whose wages (as defined for Social Security purposes) are less than $4,000 for a biweekly period. For a biweekly pay period in which an employee earns $4,000 or more, no amount of the wages in that pay period will be eligible for the benefit. Sasse responded by attacking Trump as essentially Barack Obama 2.0. On August 8, President Trump signed an Executive Order, Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, which deferred the employee portion of Social Security payroll taxes for certain individuals. The last payroll tax cut for American workers was pushed through by the Obama administration in 2011, despite concerns that the cut would … [image via Chip Somodevilla/Getty Images], Have a tip we should know? Trump’s actions were widely criticized by Democrats as insufficient stopgap measures, but some on the left and the right assailed the president for attempting to govern by decree. The President’s deferral of payroll taxes for Americans earning less than $104,000 a year through Dec. 31 poses no legal issues. House Speaker Nancy Pelosi, D-Calif., praised former President Barack Obama's payroll tax cut in 2011. The President’s resort to executive orders is a separate issue, and it’s worth considering all four in turn. Interest, penalties, and additions to tax will begin to accrue on May 1, 2021, with respect to any unpaid taxes.
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