From GOBankingRates.com:
Employers and self-employed individuals who chose to defer paying part of their 2020 Social Security tax obligation [because then President Donald Trump, as part of his re-election campaign, gave them the option or because they were federal employees who had it forced upon them by Trump] must make a payment by Jan. 3, 2022. While many received reminder billing notices from the IRS, the agency also noted that those affected are still required to make a tax payment, even if they never received a bill.
“As part of the COVID relief provided during 2020, employers and
self-employed people could choose to put off paying the employer’s share
of their eligible Social Security tax liability, normally 6.2% of
wages,” according to the IRS reminder. “Half of that deferral is now due
on January 3, 2022, and the other half on January 3, 2023.” ...
6 comments:
What a guy!
This was possibly the most harebrained attempt an incumbent president ever made to bolster his re-election bid.
and if you work for the government and made less than a certain threshold...you HAD to participate. what a joke.
So people will thank Trump for the tax cut and blame Biden for making them repay it. perfect strategy.
This should stay as a SS Blog, not a political one.
It was a genius dick move on Trump's part. If he won the election, he'd kick the can further down the road. If he lost, it was a poison pill designed to hurt Biden, who he knew most people missing chunks of their paycheck would blame.
This has to do with the FICA tax. It is relevant considering that the tax funds the benefits that Social Security offers.
Post a Comment