gs11rmb
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Post by gs11rmb on Sept 3, 2020 17:54:42 GMT -5
My DH is in the Army Reserves and is currently deployed. Does he count as a federal employee?
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wvugurl26
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Post by wvugurl26 on Sept 3, 2020 20:26:38 GMT -5
My DH is in the Army Reserves and is currently deployed. Does he count as a federal employee? Is he paid by DFAS? Does he have a mypay account? I assume so? If he's paid by them, then they are stopping collecting it and you cannot opt out. It begins with the pay period ending 9/12 per their memo. The only exemption is if your social security wages are more than $4,000.
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billisonboard
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Post by billisonboard on Sept 3, 2020 21:08:47 GMT -5
My DH is in the Army Reserves and is currently deployed. Does he count as a federal employee? Is he paid by DFAS? Does he have a mypay account? I assume so? If he's paid by them, then they are stopping collecting it and you cannot opt out. It begins with the pay period ending 9/12 per their memo. The only exemption is if your social security wages are more than $4,000. Certainly one of those potentially interesting situations. If his (or a hypothetical his/her) deployment were to end around the end of the year, how would those deferred payments be repaid?
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gs11rmb
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Post by gs11rmb on Sept 4, 2020 7:19:38 GMT -5
Is he paid by DFAS? Does he have a mypay account? I assume so? If he's paid by them, then they are stopping collecting it and you cannot opt out. It begins with the pay period ending 9/12 per their memo. The only exemption is if your social security wages are more than $4,000. Certainly one of those potentially interesting situations. If his (or a hypothetical his/her) deployment were to end around the end of the year, how would those deferred payments be repaid? His deployment ends in March. I'll need to let him know what's about to happen but first I have another question for the board . When everything becomes due in the first quarter of next year can he elect to pay it all at once or will the deductions simply double throughout the first three months? I'd prefer to just 'cut a check' but that might not be an option.
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wvugurl26
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Post by wvugurl26 on Sept 4, 2020 7:38:51 GMT -5
I would grab one of his paystubs now so you know how much was previously taken out and can know what to save. What I saw said due between 1/1 and 4/15 so I assume it will be calculated and due with your 2020 tax return based on those dates. I don't think anyone knows how it will actually work though. Since we don't normally play these stupid games with short term deferrals no one asked for.
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ArchietheDragon
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Post by ArchietheDragon on Sept 4, 2020 7:55:59 GMT -5
I would grab one of his paystubs now so you know how much was previously taken out and can know what to save. What I saw said due between 1/1 and 4/15 so I assume it will be calculated and due with your 2020 tax return based on those dates. I don't think anyone knows how it will actually work though. Since we don't normally play these stupid games with short term deferrals no one asked for. From what I have read, it will not be due with your personal tax returns. Companies are going to deduct the amount deferred through payroll during he period 1/1 through 4/30. And they have to do equally during that pay period. So if you had $800 deferred and you get paid weekly, your employer will withhold and additional $50 of SS tax during the first 16 weeks of 2020. If the employee is no longer employed by the employer during that time, the employer still owes the deferred taxes and can try to collect it from the terminated employee (good luck with that)
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thyme4change
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Post by thyme4change on Sept 4, 2020 12:48:27 GMT -5
I would grab one of his paystubs now so you know how much was previously taken out and can know what to save. What I saw said due between 1/1 and 4/15 so I assume it will be calculated and due with your 2020 tax return based on those dates. I don't think anyone knows how it will actually work though. Since we don't normally play these stupid games with short term deferrals no one asked for. From what I have read, it will not be due with your personal tax returns. Companies are going to deduct the amount deferred through payroll during he period 1/1 through 4/30. And they have to do equally during that pay period. So if you had $800 deferred and you get paid weekly, your employer will withhold and additional $50 of SS tax during the first 16 weeks of 2020. If the employee is no longer employed by the employer during that time, the employer still owes the deferred taxes and can try to collect it from the terminated employee (good luck with that) This feels short sighted and not super effective.
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billisonboard
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Post by billisonboard on Sept 4, 2020 12:58:24 GMT -5
From what I have read, it will not be due with your personal tax returns. Companies are going to deduct the amount deferred through payroll during he period 1/1 through 4/30. And they have to do equally during that pay period. So if you had $800 deferred and you get paid weekly, your employer will withhold and additional $50 of SS tax during the first 16 weeks of 2020. If the employee is no longer employed by the employer during that time, the employer still owes the deferred taxes and can try to collect it from the terminated employee (good luck with that) This feels short sighted and not super effective. Might be why there was almost zero support for it in Congress and is only happening by Trump Executive Order.
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jeffreymo
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Post by jeffreymo on Sept 7, 2020 8:43:26 GMT -5
I would grab one of his paystubs now so you know how much was previously taken out and can know what to save. What I saw said due between 1/1 and 4/15 so I assume it will be calculated and due with your 2020 tax return based on those dates. I don't think anyone knows how it will actually work though. Since we don't normally play these stupid games with short term deferrals no one asked for. From what I have read, it will not be due with your personal tax returns. Companies are going to deduct the amount deferred through payroll during he period 1/1 through 4/30. And they have to do equally during that pay period. So if you had $800 deferred and you get paid weekly, your employer will withhold and additional $50 of SS tax during the first 16 weeks of 2020. If the employee is no longer employed by the employer during that time, the employer still owes the deferred taxes and can try to collect it from the terminated employee (good luck with that) And if they are unable to collect it from the former employee they need to report the amount as 2021 income to the IRS.
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ken a.k.a OMK
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They killed Kenny, the bastards.
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Post by ken a.k.a OMK on Sept 7, 2020 8:48:09 GMT -5
Some small businesses here decided not to stop taking out SS tax. I think the IRS only suggested it, not requiring them to stop.
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nidena
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Post by nidena on Sept 7, 2020 10:21:47 GMT -5
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sesfw
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Today is the first day of the rest of my life
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Post by sesfw on Sept 7, 2020 10:42:30 GMT -5
The small company I work for is still taking out the SS tax.
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NastyWoman
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Post by NastyWoman on Sept 7, 2020 17:11:40 GMT -5
I don't know what my company will do but for once this is a cluster****that I don't have to worry about as I fall outside the eligibility criteria
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