US Chamber asks Treasury to clear up 'serious concerns' about payroll tax deferral

[highplainsdem]

Source: The Hill

The U.S. Chamber of Commerce on Wednesday asked the Treasury Department to answer “significant questions” raised by President Trump’s executive order allowing a deferral of payroll taxes.

-snip-

“While the recently issued Executive Order (EO) on payroll tax deferral is well-intended to provide relief, it has raised serious concerns for both employers and employees,” wrote Caroline Harris, the Chamber’s vice president of tax policy and economic development.

-snip-

While Trump’s executive order may be a backdoor way of securing the payroll tax deferral, the lack of clear guidance as to how it would be implemented, who would be responsible for doing so and what would happen to deferred payments has raised major concerns among lawmakers and tax policy experts. The order also raises a slew of questions about how to handle bonuses, the pay of seasonal workers and employees who leave before the deferral period, Harris wrote.

-snip-

Harris also cited concerns about the “substantial tax liability for employees at the end of the deferral period” that “threatens to impose serious hardships on employees who will face a large tax bill at the end of the deferral period.”

Read more: https://thehill.com/policy/finance/511769-us-chamber-asks-treasury-to-clear-up-serious-concerns-about-payroll-tax

[Tommymac]

1. Toiletroll Tax Deferral

That EO is not worth the paper on a cardboard roller.

To have a Rethuglican leaning group like the USCC take you to task is pretty telling.

[C_U_L8R]

2. "Well intended"

That's a stupid assumption right there.

[maxrandb]

4. Well, it is the Right Wingnut Trickle down Ayn Randian fantasy Chamber of Commerce

Since it's now acceptable practice, I think the fucking Chamber of Commerce offices all over the country are the first place for Joe to send federal troops.

I would caution the Chamber boys though, tears and snot do tend to stain Brooks Brothers suits, and that teargas residue is hell to get out of your clothes.

[cstanleytech]

6. Stupid sums up pretty much anyone that has remained a registered Republican for the past

40+ years.

[magicarpet]

3. I thought trDumpie's crack team of lawyers took,..

.... care of this. Dotted every I and crossed every t. That is what Kudlow said.

No nobody can figure the damn thing out.
Everyone in the administration has a different way of interpreting these bogus Executive Orders.

No wonder everyone is confused. This is why tax laws are not left to decide by only the executive branch. There is a check and balance of both houses of congress to make sure highly questionable and/or ambiguous tax changes or laws are not enacted by a bunch of buffoons who only screw up the works.

You can't run the federal government like a child's summer part time end of the driveway lemonade stand.

[muriel_volestrangler]

7. If they were thought of as Executive Tantrums, I think everyone's expectations would be in line

with the likely outcomes.

"President Trump today issued another three Executive Tantrums, saying he wants payroll taxes cut, unemployment benefits extended, and student loans suspended, and the credit for it all. Government lawyers will now take a look to see if they are in any way feasible, and then start talking to congressional members and law drafters, who have the real expertise in law and regulation setting, and those in all 50 states, to work out if there's any chance Trump could get his wishes. They acknowledged that this was bound to take time, and Trump would have lost interest by then and thrown tantrums about different topics."

[cstanleytech]

5. A whole lot of people could be seeing a rather nasty tax bill come due curtsy of Trump and the

Republican party.

[Miguelito Loveless]

8. He's your god,

Never question your god.

[zentrum]

9. Setting up time bomb for Biden.

When the pay-back comes due, no average person will be able to pay double to make up for the deferment.

What a vile way to defund SS and Medicare.

Maybe it will the inflection point that finally raises the cap and/or creates a version of Medicare for all.

[TomCADem]

10. If employers fail to withhold, then they should pay

it is not like the law has actually changed.

[Justice]

11. Exactly. That's why Chamber weighing in. Larger

And public Employers will withhold b/c auditors will advise them to.

[VarryOn]

12. Executive orders are being abused...

and have been for several administrations. Their temporary nature (really only applicable until the next President decides to change or eliminate) make them poor tools lasting change. If Congress weren't perinnially dysfunctiona, adversarial, and ineffective, perhaps Presidents could work with them to put things in stone.